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 IlluminoxTM 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.”
Karkinos Healthcare counts Tata Group and business personalities including Ratan N Tata, Venu Srinivasan, Ronnie Screwvala, Bhavish Aggarwal, and others as investors.