Cancer Genetics targets India acquisitions

In the US, nearly 50 per cent of breast cancer cases are detected using genomics testing. In contrast, it is less than 2 per cent in India.

While the cost of diagnosis using DNA-based genome tests is coming down in the US, it is prohibitive for most people in India. However, big ticket investments are flowing into research in this area, and in the near future, the tests will become affordable, says Panna Sharma, CEO of Cancer Genetics Inc (CGI).

India requires high quality clinical labs and large-scale studies to validate results of genomic diagnostics.

CGI, based in Rutherford, New Jersey, has the capability, intent and investment interest to bring these to the country, he said in a telephonic interview. The sequencing of the human genome in 2000 offered a lot of insights into the genetic make-up of human beings. It also set off research into understanding the role of each gene in relation to growth, characteristics and diseases. A deeper understanding of this is leading to the development of newer diagnostics, personalised medicine, etc.

In its bid to expand into India, CGI acquired BioServe Biotechnologies in Hyderabad, in 2014. In addition to expanding its sales and clinical teams in India, it has lined up four-five major research collaborations and several partnerships with leading hospitals, Sharma said.

The long-term strategy is to treble manpower in BioServe (cross 100 in the next 2-3 years), grow the discovery services business, and train people in genomics. India is expected to be a big market; it has a talent pool, which could be an asset for R&D, he added.

The $10.2-million turnover Nasdaq-listed CGI is also looking at more acquisitions in India. “We look for customers, content and technology. Therefore, companies with these assets are the target and there are quite a few,” he said. At the moment, there is low-risk appetite for investments in such companies in India, but the interest from global entities is high.

In discovery services, the company offers its next generation sequencing capability to Indian institutes like IISc, CCMB, biotech firms and government-supported research centres.

Globally, CGI has strong partnerships with Mayo Clinic, Cleveland Clinic and Columbia University.

With the burden of cancer growing rapidly in the country amongst all age groups, hospitals and research centres are stepping up facilities to treat, pursue cures with little success.

CGI India has tied up with Kamineni Hospitals in Hyderabad to offer genetic testing for cervical cancer and is looking at rapid expansion in the market.

The company, an emerging leader in DNA-based cancer diagnostics, is focussed on solid tumour cancers. It has forged a collaboration with the Indo-American Cancer Hospitals for cancer studies and data validation. There will be more tie-ups with hospitals in Mumbai and Delhi in the near future, the company says.