As per the report, Kiran Mazumdar Shaw, founder of Biocon invested in two cancer curated startups. She invested $1.6 million (around Rs 11 crore) in Philadelphia and Mumbai-based UE Lifesciences.
UE Lifesciences, founded by Indian American entrepreneur Mihir Shah in 2015, earlier raised $3 million from Aarin Capital and received a grant of Rs 50 lakh from Unitus Seed Fund. Its develop an affordable breast cancer screening device.
“Cancer therapy is not one-size-fits-all, if you stratify them based on genomics, among other things. So you can tailor-make therapy, which are less harsh and for that early detection is very important.”, Kiran said.
Her bet on UE’s iBreastExam device is based on the uncomfortable experience women face with mammograms. But Shaw calls UE’s scans “intelligent.” UE Lifesciences is not the only company Shaw has placed her bets on. In the last six months, she has been mentoring some healthcare startups in building business models, besides giving growth fund to Bangalore-based Oncostem Diagnostics that uses tumour cells of patients to determine the need of chemotherapy for treatment.