Revolutionizing Cancer Treatment in Asia: Unilease backs 4baseCare's Visionary Journey

At Unilease, we're not just investors; we're advocates for transformative healthcare, and 4baseCare embodies this with its remarkable growth and expansion across Asia. Their strategic market penetration and financial acumen, resulting in a consistent increase in revenue and a tenfold growth in their oncologist network, are why we believe in their vision and celebrate their success.

Revolutionizing Cancer Treatment in Asia: 4baseCare's Visionary Journey

The duo behind 4baseCare Hitesh Goswami, co-founder of Bionvid Technology and a former research scientist at Piramal Life Sciences, alongside Kshitij Rishi, with his extensive leadership background at GE Healthcare and Piramal Life Sciences, have harnessed their collective experiences to address a critical healthcare challenge. "Our goal is to make personalized cancer care accessible and affordable in Asia," shares Hitesh, reflecting their deep-rooted commitment.

At the core of 4baseCare's offerings are their genomic tests, which are complemented by digital solutions like Oncobuddy, a patient-centric app, and Oncobench, a tool for oncologists. These innovations are backed by a rich dataset of clinical and genetic information, which not only aids in precise treatment but also holds immense potential for pharmaceutical research and development.

US-based Illumina's support for 4baseCare, marked by their acceptance into Illumina's 10th funding cycle accelerator program, signifies a notable endorsement. Illumina's TSO500 panel targets 525 genes based on research of mutations in Caucasian populations. In contrast, 4baseCare's Indiegene panel covers a broader spectrum, examining mutations in 1212 genes, including those identified as cancer drivers in Indian patients. The 4baseCare Indiegene panel includes all genes from Illumina's TSO500 and adds over 650 genes relevant to the Indian population. This comprehensive approach aligns the testing with the unique genetic landscape of Indian patients, providing more accurate and personalized insights for cancer treatment. 4baseCare is building extensive genome data sets for various populations, which can be monetized. The data sales, with around a 90% margin, present significant financial potential.

Impressive Growth Trajectory

4baseCare's financial health is robust, with a remarkable 102% growth in tests sold from May 2022 to May 2023. The fiscal year from May 2022 to April 2023 saw revenues of $1.591 million, maintaining an impressive 42% gross margin. Notably, sales of their Targt Indiegene test kits surged by 107% year-over-year, boasting a 71% margin, while Targt First test kits witnessed a staggering 446% increase in sales, indicating a strong market acceptance at the 12500 INR price point. These figures are not just numbers; they represent lives impacted, a testament to the company's effective community-centric approach and strategic market penetration in Tier 2 & 3 cities across India and neighboring countries.

4baseCare's fundraising narrative is as compelling as its mission. With three funding rounds and additional grants, the company's financial backing is solid. The pre-Series A round alone secured $2M on March 10, 2021. The latest round saw contributions from leading investors like Mount Judi Ventures and GrowX Ventures, among others. Since then, 4baseCare has grown not only in financial stature but also in its operational reach, now serving countries beyond India, including the UAE and Singapore, to name a few. The network of oncologists collaborating with 4baseCare has expanded tenfold, driving monthly revenues to an impressive USD 250k.

The company's EBITDA margin percentage gap has been consistently narrowing from January to May 2023, a clear indicator of their adept cost management and revenue growth.

The Road Ahead: A Strategy for Scalable Impact

4baseCare's growth strategy is meticulously crafted, focusing on expanding its distribution network and product offerings. The hub and spoke model they've adopted is set to streamline operations and enhance accessibility. The company is on a fast track to achieving its goal of conducting 100,000 tests annually.

A Model of Success in Healthcare

4baseCare's journey is a narrative of innovation, growth, and unwavering commitment to healthcare. Their unique focus on precision oncology for the Asian demographic, coupled with their strategic business model, positions them as a formidable force in the healthcare industry. With each test kit, 4baseCare expands not only its data repository but also its potential to revolutionize cancer care. The company's success is echoed in the satisfaction of oncologists and patients alike, who advocate for their testing kits. The establishment of a hub and spoke model, with 10 testing centers already operational, is a strategic move that promises to bring 4baseCare's services to the doorstep of those in need.

As we witness 4baseCare's ascent, it's clear that their journey is not just about business growth—it's about nurturing hope and saving lives through innovation and precision medicine.