Rakuten Medical Inc, and Karkinos Healthcare Private Limited announced a strategic collaboration to expand the reach of novel cancer care to India. This includes a minority stake acquisition in Karkinos Healthcare by Rakuten Medical. Rakuten Medical’s investment marks Karkinos Healthcare’s first international investor.
Rakuten Medical is focused on developing and commercializing innovative cancer treatments for multiple indications based on its Illuminox™ platform. Karkinos is a healthcare technology platform focused on delivering quality healthcare by providing access to, and availability of, cancer detection, diagnosis and treatment options. This strategic collaboration will enable continued innovation in cancer care with the goal of transforming cancer care in India and abroad.
Rakuten Medical’s first pipeline drug developed on its Illuminox™ platform, ASP-1929, has received approval from the Japanese Ministry of Health, Labour, and Welfare, and is currently the subject of a global phase 3 clinical trial for recurrent head and neck cancer. Karkinos Healthcare is pioneering the Distributed Cancer Care Network model in India addressing clinical needs that will bring quality care closer to patients. Karkinos already offers its services in Kothamangalam, Chottanikkara, Thodupuzha, Munnar locations across Ernakulam and Idukki Districts, in Kerala and is planning to ramp up its operations across India.
“We are happy to partner with Karkinos Healthcare, who is committed to transforming cancer care,” said Mickey Mikitani, Chief Executive Officer of Rakuten Medical, Inc. “We believe this partnership will open up more opportunities for cancer patients in the Indian market, help Rakuten Medical further develop and commercialize our treatment based on our Illuminox platform, and ultimately deliver on our mission to bring this technology to as many patients as possible.”
“Our collaboration with Rakuten Medical will allow us to introduce their breakthrough therapies and vital support structure for cancer patients in India,” said Venkataramanan R, Chief Executive Officer of Karkinos Healthcare. “We at Karkinos believe platforms like Rakuten Medical’s Illuminox platform can revolutionize cancer care in the country and beyond.”
Rakuten Medical, Inc. is a global clinical stage biotechnology company developing and commercializing precision, cell-targeting investigational therapies on its Illuminox™ platform, which, in pre-clinical studies have been shown to induce rapid and selective cell killing and tumor necrosis. Outside of Japan, Illuminox therapies have not yet been approved as safe or effective by any regulatory authority. The company’s first drug developed on the Illuminox platform, ASP-1929, has received approval from the Japanese Ministry of Health, Labour, and Welfare, and is currently the subject of a global phase 3 clinical trial for recurrent head and neck cancer. Rakuten Medical is committed to its mission to conquer cancer and aims to realize a society where cancer patients can lead fulfilling lives.
Karkinos Healthcare is a technology driven oncology focussed managed health care platform for early detection and diagnosis of common cancers. The company espouses the use of a distributed cancer care network working with multiple healthcare institutions and professionals in the ecosystem with a view to get cancer care closer to the persons’ home by decoupling the delivery from the knowledge systems of care.