Companies

XCyton gets $4.5 m from Fidelity

Our Bureau Bangalore | Updated on November 14, 2017

Mr Ketan Patel, Princiapl Fidelity Biosciences, Fidelity Investmets, Ms Kiran Mazumdar Shaw, MD, Biocon, Mr B V Ravi kumar, Founder Chairman and MD of XCyton Diagnostics Pvt Ltd and Mr Prem Pavoor, Associate Director, Fedility Growth Partners India at a press conference in Bangalore on Saturaday : Photo: G R N Somashekar   -  BusinessLine

XCyton, a diagnostics product company, has received $4.5 million in funding from Fidelity Growth Partners India.

The company has developed a syndrome evaluation system (SES), which allows for the identification of multiple organisms like bacteria, viruses, fungi and parasites through a single test.

The current conventional tests take 72 hours to seven days for identification of organisms. SES identifies the organisms in a short duration of seven hours and generates the reports.

“Initiation of this therapy reduces death and disability in one sample, one test. Also, all the probable causative agents which cause a syndrome can be diagnosed, in less than seven hours,” said Dr B. V. Ravi Kumar, the company's Chairman and Managing Director.

“This product will ensure a paradigm shift from disease-based sequential diagnosis to syndrome-based diagnosis, thereby reducing time and costs,” he added.

The company, which is currently offering these tests in its laboratories in Bangalore, plans to expand across all the major cities in the country in the next 12 months.

“Through this funding we plan to commercialise SES and also develop further products in other areas,” said Dr Kumar.

XCyton, started in 1993, has got funding from Ms Kiran Mazumdar Shaw, CMD, Biocon (it is a private investment ). Other investors are Amvar Ventures (a sister-concern of Nadathur Holdings) set up by Mr N. S. Ragahavan; and Birthstone Capital Advisors. Fidelity Growth Partners has joined this list now.

Ms Kiran Mazumdar Shaw said: “SES diagnostics is a uniquely differentiated platform that will provide a novel way of rapidly diagnosing critical care infections and provide superior treatment outcomes.”

“This is yet another approach to personalised medicine that is a very sought after space, where XCyton is an early entrant from India,” she added.

>anil.u@thehindu.co.in

Published on March 17, 2012

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