Startup Mantra: Cancer diagnosis gets a biotech push
AI and ML-based VarSee is a non-invasive and sensitive tool that uses biotechnology to identify unique biomarkers of lung cancer
Pune: When Manasi Khasnis’ father who was a doctor was diagnosed with interstitial lung disease, she realised how poor the diagnostic systems were. “We were not at all satisfied with the tests and wondered what more could be done to know more about the disease. My father too felt the same way as I did,” she said. Unfortunately, her father passed away in six months but that set in motion the thought process that all startups begin with — how to fill the gap that exists in the market, here the diagnostic world.
Manasi, a PhD graduate from Indian Institute of Science Education and Research (IISER) with six years of research experience in the corporate world, along with her co-founders Snahlalta Singh also a doctorate from National Centre for Cell Science (NCCS), Pune and a post-doctorate from University of Pennsylvania and Atharva Joshi, computer engineer from Vellore Institute of Technology (VIT), decided that their training and experience could be put to better use by creating better technologies, and the unfortunate death of father only spurred them on to use their knowledge to improve cancer detection.
Manasi said, “Cancer is the leading cause of death in our country and we decided to focus our energies in the field of newer biomarkers for detection of lung cancer.” This she feels has very poor tools for diagnosis.
Biomarkers to the rescue
Manasi and her co-founders felt that the way forward to developing a reliable and effective tool for cancer detection lay in the biomarkers that are found in body fluids. These biomarkers reflect biological processes or states within an organism. “We felt that by analysing biomarkers, doctors would get valuable insights into their patients’ health that will not only enable early detection but also allow for personalised treatment strategies. So, we started by focussing on biomarkers related to cancer.
“When tumours develop, they cause several changes in the body, like inflammation and changes in blood vessel structure. These changes alter the levels of certain biomarkers in the blood. Recent research shows that specific proteins and microRNAs are enriched in the blood during the early stages of cancer. Our diagnostic tool VarSee uses these findings to detect early-stage lung cancer through a simple blood test. However, measuring just one or two biomarkers is often insufficient. Our approach involves multiplexing several biomarkers, forming the basis of our technology. The method is backed by extensive research, with over 40,000 studies supporting the efficacy of biomarker-based detection for lung cancer,” she said.
Technology
BioMarkIQ uses artificial intelligence (AI) and machine learning (ML) to enhance VarSee’s capabilities. “AI helps us process complex biological data efficiently and accurately. Our AI systems learn from each dataset, improving the precision of our diagnostic outcomes over time. ML forms the core of VarSee, enabling it to analyse vast arrays of biomarker data and personal health variables. Our ML models identify patterns and correlations that might be missed by human analysts, leading to earlier and more accurate detection of lung cancer. These technologies allow us to predict disease progression and response to treatment, guiding personalised patient care. Our focus on AI and ML ensures our solutions are scalable, adaptable, and ready for future advancements in technology and medicine,” the co-founder said.
The solution
VarSee is a simple blood test designed to detect lung cancer early. It is an advanced monitoring suite that accurately identifies early signs of lung cancer in patients’ blood, providing a personalised diagnosis.
Traction
Like other bio-innovation companies, BioMark still has some way to go before they hit the market. The market entry is guarded not just by approvals from government authorities but also by rigorous clinical trials before being offered to diagnostic labs. However, the company has seen its path marked by significant milestones.
“Since our incorporation in March 2023 and team establishment in April, our journey has been marked by significant milestones. In August, we won the TiE Women Runner-up Award, followed by securing grants in September and October. Our efforts culminated in February 2024 when we received the Aegis Graham Bell Award of Excellence,” she said.
Market strategy
“Our go-to-market strategy involves obtaining a test licence from the Central Drugs Standard Control Organisation (CDSCO) and conducting a multicentre prospective diagnostic clinical trial. Upon successful validation, we will pursue a sales and manufacturing licence to distribute our detection kits.
“VarSee leverages advanced biomarker analysis and AI algorithms to ensure accurate and timely lung cancer detection for high-risk groups such as smokers and individuals working in hazardous industries. We aim to reach our target audience by collaborating with diagnostic labs and hospitals to make VarSee widely accessible. We will also launch lung cancer awareness programmes to educate public and build brand trust. Our phased market penetration strategy will start with the B2C segment, generating revenue from early adopters before expanding to the B2B segment, targeting high-risk industries,” she said.
Funding and financial milestones
To date, BioMarkIQ has secured $30K ( ₹25,00,000) in funding over the first eight months, including prestigious grants such as the Nidhi Prayas Grant by the department of science and technology, Government of India, and the Start-up India Seed Fund Scheme by Niti Aayog.
“Currently, we are seeking to raise $0.5 million ( ₹4.11 crore) to support clinical trials, intellectual property protection, and operational scaling,” she said.
Competition and differentiation
“Our competitors include OneTest™ by 2020 GeneSystems, NODIFY LUNG® by Biodesix and Oncimmune. VarSee sets itself apart with a comprehensive biomarker panel and a powerful clinical inference engine, aiming for more than 90% sensitivity and specificity in detecting lung cancer,” she said.
Future plans
By 2026, BioMarkIQ aims to obtain regulatory approvals from CDSCO and launch VarSee in the Indian market. Looking ahead, we plan to expand VarSee to screen for other cancers, aiming to develop a multi cancer early detection (MCED) tool with industry-standard accuracy.
Mentorship and ecosystem
“Mentorship has been a crucial aspect of our startup journey, providing us with fulfilling experiences, productive sessions, and goal-oriented guidance. Pune has proven to be an excellent place for nurturing our startup, offering a vibrant ecosystem with high-quality research institutes, hospitals, and cutting-edge technology resources.” she said.
Three’s a crowd?
One of the major causes for startup failure is managing co-founder relations. And BioMarkIQ has three. How does that work out?
Manasi said, “Yes, it is vital for any startup. But we have managed with open communication. We often have discussions and arguments, but are conscious of never taking it personally. Our relationship is built on three pillars: Trust, persistence, and compassion. These values drive us forward as we work tirelessly towards our mission. Our journey is a testament to the power of collaboration, innovation, and unwavering dedication to a shared mission. Together, we aim to revolutionise cancer detection and make a lasting impact on healthcare.”