RT team
The field of oncology stands at the forefront of transforming cancer treatment methodologies through breakthroughs in artificial intelligence, robotics, and genome sequencing. Despite progress, there remains untapped potential, highlighting the ongoing need for simplified treatments and curative breakthroughs, as outlined in a report by Tracxn.
While 2021 witnessed a peak in venture capital (VC) funding for oncology, reaching nearly $23.5 billion globally, subsequent years, notably 2023, saw a decline, marking the lowest funded year in the past five years.
In India’s dynamic oncology landscape, the latest analysis reveals a narrative of innovation, funding trends, and global impact. Perfint Healthcare leads the charge with $40.1 million in total funding, followed by Immuneel and Zumutor with $27.4 million and $26.2 million, respectively.
The report highlights the dominance of oncology drugs, securing $27.1 million, with significant contributions from key players like ImmunoACT and Immuneel. While Bengaluru boasts the highest number of founded companies (20), overall funding activity shows a yearly decline, indicating a potential shift in focus.
Globally, over 5,500 oncology start-ups operate, with India hosting 94 companies, 55 of which have secured funding. Despite challenges, recent funding rounds for Cellogen Therapeutics and ImmunoACT underscore continued investor interest and confidence in the sector.
India has witnessed one acquisition involving Cipla and only two initial public offerings (IPOs) to date, contrasting with the 613 IPOs worldwide. Despite obstacles, the oncology sector persists in evolving, leveraging innovative solutions and global collaboration to drive advancements, offering hope in the battle against cancer.
