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The energy-to-retail conglomerate is leveraging Strand Life Sciences for its entry into the emerging areas of specialised healthcare diagnostics and genomic sciences. Reliance had acquired the Bengaluru-based company for Rs 393 crore in 2021.
Genomic tests are based on blood or saliva samples or tissues extracted from the body. Such tests are gaining traction, helping understand the risks of diseases, how cancers progress, guide personalised plans for targeted therapies, and in distinguishing inherited traits like genes, proteins, or chromosomes that affect individual well-being.
“We would like to make an impact,” Nilesh Modi, director, Strand Life Sciences and a veteran RIL official told ET. “This is kind of a Jio-fication in genomics so that the tests can be accessed across all income groups. However, we have not fixed timelines. Our chairman (Mukesh Ambani) has given us the task.”
Reliance’s entry into the genomic tests market could trigger a disruption similar to that of its telecom venture Jio in 2016. At the time, the company revolutionised mobile phone penetration in India with a dramatic decline in call rates and internet data services.
“Our mid-term goal is to bring the price of CancerSpot cancer early detection screening test to Rs 9999 and aspire to reduce it further to triple digits in the coming decade,” Strand Life Sciences said in a statement separately. “We want to make genetic sequencing and early cancer screening accessible and affordable to the masses.”
Towards this aim, Reliance would strive to reduce “gene sequencing costs with scientific innovations in the assay design and engineering innovations in lab techniques, and with the benefits of scale.”The first hints of a decisive push towards this project came earlier this year. In his annual general meeting speech, Ambani spoke about the breakthroughs in genomics and the promising future it holds for “dramatic improvements in cure of diseases, longevity, and overall health.”
“We are expanding into the frontiers of digital health, life sciences and genomics. And we are developing AI as a new growth engine,” he said.
CancerSpot
CancerSpot is an AI-based genome sequencing and analysis model that aids in early detection of ten types of cancers including liver, gallbladder, pancreatic, breast, and stomach. However, it is a screening test and not recognised as a confirmatory test.
According to company experts, typically, the annual incidence of cancer in those above 50 is less than one per 100 individuals, while among those identified as CancerSpot positive, this rate goes up 10-30 times. Those who are positive must follow up with standard-of-care diagnostic steps to confirm the presence of cancer.
Ramesh Hariharan, CEO, Strand Life Sciences, said worldwide large studies are generating increasing evidence of clinical utility of genomic tests.
Reliance is investing towards building evidence in India besides doing studies in several hospitals. “Large statistical models show how early detection results in better outcomes for patients and lower costs of treatment,” he said.
India’s cancer prevalence rate has surged over the last decade, with 1.5 million cases diagnosed every year. Survival rates are low since nearly 80% of the cancers are detected when the disease has progressed to stages III and IV during diagnosis.
“We will increase our marketing push after these studies are completed,” said Hariharan. “Until then, without much of a sales or marketing push, we have seen good interest from both consumers and clinicians. We are very hopeful that with more awareness and a good price point this test will gain popularity quickly.”
Besides Strand, genomic tests as specialty diagnostics and longevity solutions are offered by several others including MedGenome, Metropolis, 1Cell, and Neuberg.
Hariharan however cautioned that the task is very challenging given the high costs of imported raw materials and sophisticated equipment required to make and sell such test kits.
Reliance had also acquired Karkinos Healthcare late last year for Rs 375 crore. While Strand Life Sciences is sharply focused on leveraging the comprehensive power of genomics for diagnostics and clinical applications, the core area for Karkinos is to provide affordable end-to-end cancer solutions –from early-stage detection to treatment and wellness solutions.
