Milltrust Ventures to Invest in First-In-Class Health Tech Platform Oncoshot
SINGAPORE, March 22, 2022 /PRNewswire/ – Oncoshot has announced it will be welcoming Dr Bernard Ng, Chief Scientific Officer of Milltrust Ventures, to its advisory board this month. This comes as a first step as the specialist investment organization finances the fast-growing health tech company founded in Singapore.
Milltrust Ventures is a subsidiary of Milltrust International Group, a specialist investment organization co-headquartered in the asset management hubs of London and Singapore. It invests in early-stage high-potential companies with a focus on science and technology that can positively impact individual health and healthcare systems. Milltrust Ventures screens and identifies start-ups from the British and European ecosystems, and Asia, particularly Singapore, home to a thriving start-up ecosystem with strong backing and support from good policies and government assistance.
Oncoshot is a health insights exchange platform that leverages its proprietary clinical trial matching artificial intelligence (AI) technology to address the inefficiencies of cancer clinical trials. The platform serves as a bridge between leading regional healthcare institutions and contract research organizations (CROs) and global biotechnology and pharmaceutical companies to facilitate data-driven cancer clinical trials while accelerating enrolment into actively recruiting ones.
The Oncoshot platform generates relevant hospital-approved real-time leads for trials in minutes, sorting through over 100,000 de-identified patient profiles spanning its three initial markets. With the traditional approach, this process can take weeks to months. Cutting time spent in the enrolment stages can save clinical trial stakeholders tens of thousands of dollars per day.
“Milltrust Ventures is proud to be an investor for Oncoshot. We see the value this health insights platform can bring to the field of cancer clinical trials globally and Oncoshot’s potential in bringing this system to fruition,” said Dr Ng, “starting with enabling patients to be matched with trials in near real-time and at a later stage, generating insights from the wealth of data for real-world evidence to help the way we fight cancer on a population and individual level.”
Before his role at Milltrust Ventures, Dr Ng was Bayer Consumer Healthcare’s Vice President and Head of Global Medical and Clinical Affairs. As a respected veteran of the medical and clinical affairs industry, he will bring 23 years of global, regional, and local experience to Oncoshot.
He will be joining Curie Oncology Senior Consultant and Medical Oncologist Dr John Chia; Ekomed Technologies CEO John McKendry; and Supra Oncology Founder and former Pfizer Managing Director Srini Srinivasan in guiding Oncoshot as it grows as an equitable first-in-class health insights exchange platform for cancer clinical trials.
This strategic investment by Milltrust Ventures allows the investment organization to participate in Oncoshot’s future funding rounds. In return, it will support Oncoshot with early market engagement amongst healthcare systems and industry partners in the APAC. Milltrust Ventures will also assist Oncoshot with its expansion in Australia and India, where the latter has already established partnerships amongst apex cancer institutes, with early commercialization from leading pharmaceutical companies and CROs, as it has done in its home country.
About Oncoshot
Oncoshot was founded in 2018 by Dr Huren Sivaraj, a medical oncologist, and Ruslan Enikeev, a data science engineer and creator of Map of the Internet – a popular web traffic data-visualization tool. Oncoshot’s mission is to help oncologists identify cancer clinical trials more efficiently and effectively for patients and their caregivers by supporting hospitals and research partners. Its current focus is to leverage technology to address the inefficiencies of cancer clinical trials. Oncoshot has expanded to Australia and India since its inception in Singapore, an act that highlights its applicability and success.
