Mestastop Secures $500k for Advancing Cancer Drug Discovery Tech
- ByStartupStory | October 19, 2023
Mestastop Solutions, a biotech startup, has successfully raised Rs 4.5 crore (approximately $500,000) in a Pre Series A funding round led by 92 angels and Malpani Ventures. This comes after the company secured seed funding of Rs 2 crore in 2021, with the lead from IIM Ahmedabad’s CIIE and participation from IKP and angel investors.
Founded by Arnab Roy Chowdhury and Debabani Roy Chowdhury, Mestastop is focused on developing a platform that centers on cancer metastasis. They utilize wet lab biology and predictive analytics to identify and differentiate the unique characteristics of metastasis, harnessing this knowledge for drug discovery and patient treatment.
Dr. Arnab shared his thoughts, stating, “Over the last three years, we have been involved in extensive R&D, which has created novel platforms. We are ready to leap forward and use these platforms for our discovery and diagnostics efforts. I thank all existing investors for supporting us and the incoming investors for sharing our vision and passion.”
The raised funds will be allocated towards generating proof of concept data with small molecules targeting the first-in-class identified targets. They will also support efforts in drug repurposing to delay metastasis by identifying potential clinical candidates, along with the development of new animal models and clinical studies. Strategic business development activities are also on the agenda.
Alok from 92 Angels expressed, “Mestastop is on a noble mission to defeat cancer, a dreaded disease that takes millions of lives every year. 92 Angels, a group of investors whose specific goal is to support companies that make a better world, is privileged to be part of Mestastop’s journey.”
Dr. Anirudh Malpani from Malpani Ventures stated, “We are pleased to back Arnab, Debabani, and the team at Mestastop. The company’s vision of developing novel platforms and predictive diagnostics to solve for cancer metastasis resonates well with our thesis at Malpani Ventures to back purpose-driven tech-first founders in healthcare.”
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The global economic burden of cancer is expected to reach around $25 trillion by 2050, with spending on cancer treatment and research estimated to reach $400 billion by 2030. Within this landscape, the global drug discovery market size is projected to reach $150-180 billion. Addressing cancer metastasis is a complex challenge and a potential solution to a problem that has long plagued the pharmaceutical industry, leading to reduced returns on research and development efforts.
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