RO oncology big data project seeks financing on crowdfunding platform

Oncochain, a platform for collecting and analyzing data in the sector of oncology, aims to obtain EUR 350,000 through a financing round led by venture capital fund Cleverage.

The startup is looking to get EUR 200,000 through equity crowdfunding on SeedBlink, the largest platform dedicated to technology startups in Southeast Europe, while Cleverage will come with EUR 100,000. The difference to EUR 350,000 should come from business angels Growceanu and Transilvania Angels Network.

The SeedBlink listing will take place on Tuesday, October 13. Oncochain is a startup launched at the beginning of 2019 in Timisoara by the couple Mădălin and Roxana Margan, both of them doctors specialized in obstetrics-gynecology.

The company has been developing an oncology research platform that collects up-to-date data from cancer patients. It aims to provide valuable data to oncology health professionals, research institutes, and pharmaceutical companies.

"The idea to launch such a platform appeared in 2017-2018 when we were in the last years of residency, and we often encountered cases of women with oncological problems, especially with gynecological cancer. We realized that a lot of important data was lost because there was no functional mechanism for collecting and centralizing them. We thought of creating a product that would gather and structure this information to help doctors, research organizations, and especially patients," said Mădălin Margan, co-founder and CEO of Oncochain.

"The funding we target on SeedBlink will help us expand our software and business development teams over the next 18 months so that we can reach our goals for 2021-2022," he added.

Next year, the co-founders want to work with 25 cancer clinics, to have 25,000 medical records for research on the platform, and collaborate with six pharmaceutical companies as paying customers.

Also, the two entrepreneurs estimate that, at the end of 2021, they will reach revenues of EUR 30,000 every month from subscriptions sold to pharmaceutical companies and hospitals.

From 2022, the management aims to expand into Eastern Europe (Bulgaria, Moldova, Serbia, Ukraine, Poland) and other countries where investments in the medical field and the oncology medication will increase at an accelerated pace until 2025 (Turkey, Egypt, South Africa). South, Indonesia, Thailand, Mexico).

(Photo courtesy of the company)