Cision PR Newswire
OneCell Diagnostics, Inc. Announces Oversubscribed Series A Funding Round to Accelerate Proprietary Cell Biopsy Technology to Democratize Precision Oncology
The $16M USD round was led by Celesta Capital, with participation from Tenacity Ventures, Cedars Sinai; OneCell to continue transforming the future of precision oncology with U.S. market entry
CUPERTINO, Calif. and MUMBAI, India, Nov. 21, 2024 /PRNewswire/ -- OneCell Diagnostics, a genomics-based precision oncology company, announced today that it has raised $16M in an oversubscribed Series A funding round led by Celesta Capital, with participation from Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures. The funding will be used to advance its vision of democratizing precision oncology through cancer diagnostic testing that is more accessible, actionable, and affordable. Celesta Capital Founding Managing Partner Michael Marks and Nobel Laureate and Celesta Capital Senior Advisor Dr. James Rothman will join the OneCell board of directors.
OneCell has developed cutting-edge technology for precision oncology liquid biopsy diagnostics. Their cancer screening tests are based on a proprietary Circulating Tumor Cell (CTC) and True-Single-Cell-Multi-omics platform, supporting a range of applications in clinical cancer care and early-stage clinical trials for biotech and pharma companies. OneCell's cell biopsy technology integrates CTC-DNA with CTC-RNA and cell surface protein testing, all from a single blood draw, a significant advancement over current "liquid biopsy" testing.
"We see a future where everyone has access to high-quality, life-saving cancer testing and this funding is a powerful validation of our vision," said Mohan Uttarwar, CEO and Co-founder at OneCell Diagnostics. "By integrating our single-cell multi-omics analytics with next-generation liquid biopsy approaches, we have the opportunity to break new ground in delivering accurate, personalized cancer care worldwide."
With this Series A funding, OneCell will expand to the U.S. market with its next-generation liquid biopsy test, OncoIndx Ikon. The test detects and analyzes CTCs, which offer rich biomarkers that advance precision diagnosis and treatment of cancer for use cases including treatment response monitoring, disease progression, recurrence, and more. Through its global operations in Silicon Valley and in India, the company has already introduced a range of products in India, where it has tested nearly ten thousand patients to date and demonstrated that its cell biopsy technology can be implemented easily, safely, and cost-effectively at any lab worldwide. The company's growing list of strategic academic and industry partners include Harvard Medical School, Stanford University, and other leading medical institutions.
"Celesta is excited about differentiated companies sitting at the intersection of high tech and biomedical science, and OneCell fits this mold perfectly," said Michael Marks, Founding Managing Partner at Celesta Capital. "By leveraging the strategic benefits of the U.S. - India corridor, OneCell is well-positioned to continue building competitive advantages. We pride ourselves on being active value-add investors and Celesta will tap our ecosystem to support their growth wherever possible."
"I'm looking forward to joining the OneCell Board at such a pivotal time in the arc of innovation for cancer treatment," said Dr. James Rothman, Nobel Laureate and Celesta Capital Advisor. "Cell biopsy represents a groundbreaking shift in how we approach diagnostics, creating more opportunities for highly individualized care. This technology has the potential to reshape the oncology landscape, and we are eager to support OneCell's bold mission to reach more than 1000 oncologists and 1 million patients in the near future."
According to the World Health Organization, 20 million people are diagnosed with cancer annually worldwide, and 53.5 million people are alive within five years following a cancer diagnosis. Cancer is a complex, constantly evolving disease driven by changes at the molecular level – more than half of today's global oncology clinical trials reflect this importance by incorporating biomarker testing. Detecting these changes at diagnosis and tracking them during treatment and beyond is critical to informing treatment decisions and detecting disease response early when it can still be treated.
About OneCell Diagnostics
OneCell Diagnostics is a genomics-based precision oncology company, providing comprehensive genomic solutions for better cancer management. OneCell's proprietary technology leverages a combination of next-generation sequencing in combination with strong bioinformatics, AI / ML, and data-analytics for multi-omics biomarkers. Founded in 2021, OneCell operations are headquartered in Silicon Valley and India. Learn more at https://www.onecelldx.com.
About Celesta Capital
Celesta Capital is a global deep tech venture capital firm. Led by technology industry veterans with decades of investment and operational experience, Celesta Capital has a passion and proven track record for building and scaling global businesses. Founded in 2013, Celesta has a portfolio of more than 100 early-stage technology investments. Learn more at http://celesta.vc.
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