Mitra Biotech is an advanced diagnostics company. The company’s proprietary assay, CANScript™, is a cancer diagnostic test designed to predict an individual patient’s clinical response to a wide array of anticancer drugs and regimens. Mitra’s technology mimics the patient’s own tumor microenvironment and then models its response to a specific drug therapy using a proprietary algorithm. In our view, CANScript may be an effective diagnostic tool to match a patient with a therapy specific to her tumor. We believe the CANScript system can be a personalized diagnostic tool for patients and a system to translate scientific research into medical practice and meaningful health outcomes.
Despite significant advances in the development of targeted cancer therapies, choosing effective treatments for patients remains one of the most significant unmet needs in oncology. Treatment for metastatic disease is effective, on average, approximately 20% of the time. When targeted therapies are available, response rates can rise to approach 50%, but this typically happens in less than 10% of all cases. All of this means that some patients are exposed to the wrong treatment, enduring unnecessary toxicity, when there are potentially effective treatments that could be pursued instead.
Large Unmet Need: One in two men and one in three women will get cancer in their lifetimes. Matching patients with drug treatments using current technology is challenging; efficacy is low, and there are multiple therapeutic choices, hence a huge unmet need for better guidance.
Proprietary and Effective Technology: CANScript has the potential to predict a patient’s response to therapy across multiple tumor types and drug classes. It can be used by itself or in combination with a genomic assessment to help oncologists solve the question of how to pick a treatment that works for each individual patient.
Conviction in Pathway to U.S. Regulatory Approval: We think that Mitra has a well thought out plan to conduct multi-center clinical trials in the U.S. to gain FDA regulatory approval, which, if obtained, could drive oncologist acceptance and reimbursement.
Strong Team and Syndicate: We believe Mitra has a world class scientific advisory board, an investment syndicate that includes respected venture capital firms, and a passionate management team committed to making CANScript an oncology standard of care for drug development and prescription.