Early detection at a tenth of the price.
Care Onco is raising ₹50 Cr over three years to take TEPScan from validation to scale, entering a $387bn market with a low-cost, kit-based model.
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The investment case
- Published science, patent application filed: an 11-gene tumor-educated platelet panel, published in BMC Genomics (2020), with a patent application filed.
- Early and accurate: Stage I detection, with ~91% average accuracy (AUC) across 400 samples.
- Radically affordable: about $100–150 per test, against $450–1,500 for current multi-cancer tests.
- Fast and simple: 6 ml of blood and about 2.5 hours on existing RT-PCR machines.
- Capital-light scale: kits and AI cloud sold through existing diagnostic chains, with regulatory work under way with CDSCO.
A $387bn market.
Entered at a tenth of the price.
$387bn
Global addressable market1
Target ~0.30% share by 2030. Asia accounts for the largest share of cases.
Multi-cancer liquid biopsies today1
| Test | Cancers | Cost | Time | Status |
|---|---|---|---|---|
| Grail – Galleri | 25–50 | ~$1,000 | 7–10 days | Pre-commercial |
| Thrive Detect | >50 | ~$500 | 7–10 days | In development |
| Burning Rock | 3–22 | ~$450 | 7–14 days | Commercial, 3 cancers |
| TEPScan | 10+ | ~$150 | ~2.5 hours | CDSCO work started |
Competitor sensitivity ranges from 20% to 90%, rising with cancer stage.
Liquid biopsy today
$1,000–1,5001
per test, with results in 7–14 days.
TEPScan
$100–1501
per test, with results in about 2.5 hours.
Sources
- Care Onco Biotech company presentation (2026)
₹50 Cr takes TEPScan from validation to scale.
62% of the round goes to clinical, regulatory, product and commercialisation work.
Year 1
₹27 Cr
Validation, regulatory approvals and launch; technology risk reduced.
Year 2
₹15 Cr
100,000+ tests; unit economics proven.
Year 3
₹8 Cr
Scale-up; ₹250 Cr revenue potential.
Use of funds (₹ Cr)
- Clinical, regulatory & validation13
- R&D, product & technology10
- Commercialisation & hiring8
- Lab infrastructure & deployment7
- Leadership team5
- Working capital5
- Corporate & legal2
Illustrative plan; subject to validation and regulatory milestones. This page is not an offer of securities.
Eight years from discovery to regulatory filing.
2018–20
11-gene platelet panel co-developed at IIIT-Delhi.
2020
BMC Genomics paper; patent filing; AIIMS-D validation; technology transfer.
2021
MOUs with Mahajan, RGCIRC, TimesZpath and Agile.
2022–23
200+ samples; DSCI MOU; Norway breast cancer study.
2024–26
Kit formulated; 150 breast validations; CDSCO work started.
The next 20 months, once funded
Month 0
Funding
Lab, team, multi-centre study design, patents in launch geographies.
Month 6–9
Own lab
RUO test and risk; doctor network; Norway via Stavanger University Hospital.
Month 9–12
India launch
RUO launch for NSCLC and head & neck cancer; 100 tests a week.
Month 18–20
Three-cancer kit
Contract manufacturing, regional AI cloud and distribution partners.
RUO: Research Use Only. The Norway programme is with Stavanger University Hospital, funded by the Government of Norway.
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