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Personalized genetic screening to improve cancer therapy

USA, California
Market: Internet and IT, Medicine, Another, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 05/23/2019
Min investment
$  200.000
Total required
$ 2.000.000
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Idea

Svastia is a genomic software platform to improve cancer treatment outcomes through personalized genetic screening of cancer patients. Svastia offers AI-driven clinical decision support for treatment selection and relapse prediction in hospitals, and also utilizes the patient genetic data to learn novel treatment response patterns. Svastia offers the knowledgebase alongside industry-leading analytical tools to improve clinical trial outcomes in pharmaceutical R&D.

Current Status

Svastia is in live private beta and is used by sel ect pharma R&D customers and hospital partners.

CANCER DIAGNOSTICS REPORTS - Available NOW; currently undergoing clinical validation by clinicians and scientists; Primary analysis (starting fr om raw DNA sequence files) to clinical interpretation and diagnostic report generation are available for select partners now.

ANALYSIS TOOLS / WORKFLOWS - Available NOW for pharma R&D customers

Market

- Cancer clinical trials market is £38B right now.
- Our addressable market is $10B within this - this is the genetics-based cancer care market. This is expected to double in the next 4 years.
- Unmet need in the market - 3000+ clinical trials are ongoing in the US, only <10% use genetic profiling
- Clinical trials need upto 6M patients each year but manage to recruit only 2M (need for faster patient referrals)

Problem or Opportunity

PROBLEM
- Doctors choose cancer treatments by trial and error or through generized recommendation
- Clinical trials select patients randomly and do not manage to recruit enough patients
- In both of the above cases, they do not know how the patients would respond to treatments. Even if some patients respond, they may not understand why. If they do, they can select or pre-qualify patients who would respond and recruit enough of them.
- Unmet need in the market - 3000+ clinical trials are ongoing in the US, only <10% use genetic profiling.

Solution (product or service)

Svastia applies AI-driven genetic screening to select and analyse patients in clinical trials. Hospitals use Svastia for cancer treatment selection and relapse prediction using genetic profiles for the treatments that are already available in the market. If no treatment is suitable, they refer patients to the 'right' clinical trials faster using the genetic and clinical information.

Competitors

Svastia has three types of competitors:
- Direct competitors: Sophia genetics, Cancer genetics, Genomics Plc - these companies' business model is directly competitive to Svastia
- Cancer diagnostics: Guardant health, Foundation medicine, etc. - these companies offer solutions for hospitals, but have limited value for clinical trials
- Data sellers: CancerLinc, M2Gen, Flatiron, etc. - these companies sell patient data collected from hospitals

Advantages or differentiators

ADVANTAGES:
- Genomic software/knowledgebase developed in Cambridge, UK
- Validated already in thousands of patients
- Integrated platform for pharma R&D and clinical decision support
- Analytics & faster patient referrals for clinical trials
- Patient data collection - planning to collect 50,000 novel patients' data (in US/India) in the next 3 years

DIFFERENTIATORS:
- Unique algorithm for targeted and immunotherapy - that benefits both hospitals and clinical trials
- Large-scale collection of novel patient data (US/UK and India)

Finance

- $150,000 pre-seed from 500 Startups
- Seeking a seed investment of $2m
- Looking for a lead investor with a healthcare background
- Already have traction from investors (who would not lead)

Business model

- Hositals: Annual license to the platform + per-patient or per-project costs
- Pharma: Annual license to the platform ($10-50K) + additional costs as seen below:
- Per-project costs for clinical studies/trials
- Patient data collection
- Patient referrals from hospitals (fee per patient)
- Expect a revenue of $16m per annum in 3-4 years (estimated using market opportunity and competitors' offerings)
- Expect to collect 50,000+ novel patients' data (in US/India) in the next 3 years - huge value for pharma R&D (example: Flatiron acquired by Roche for $1.9B)

Money will be spent on

During the first year, the seed investment will be spent on:
Development staff - 31%
Marketing - 16%
Initial patient data collections - 15%
R&D projects - 11%
Operation - 4%
Working capital - 23%

Offer for investor

- Seeking a lead investor with strategic expertise
- $300-500K investment in SAFE convertible note
- Willing to consider proposals

Risks

- Svastia offers the platfom for clinical decision support and collect patient data faster and cheaper in the US and India.
- Novel patient data will be key to certain pharma R&D projects. Faster expansion of the hospital network is important for pharma revenue.
- A more affordable platform to hospitals will accelerate the adoption for faster data collection, but could limit revenue from hospitals

Incubation/Acceleration programs accomplishment

- 500 Startups in San Francisco (batch 24) - one of the 20 companies out of 2000+ applicants
- Cambridge Social Ventures (part of University of Cambridge's Judge Business School), business support and free office space in Cambridge, UK
- Stevenage Bioscience Catalyst (incubatee)

Won the competition and other awards

- 500 Startups batch company
- Innovation forum (Cambridge) - Finalist
- Cambridge Social Venture European Regional Development Fund aided
- Get2Export funding grant for marketing and internationalization

Photos

Photo 1 - Personalized genetic screening to improve cancer therapy

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Idea
Current Status
Market
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Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
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Lead investor
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Incubation/Acceleration programs accomplishment
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