By Hudson Alakonya, Ph.D.
Cancer poses a significant health and economic problem in Africa. The burden of the disease has steadily increased over the past few decades, with forecasts estimating both incidence and mortality to double by 2040. Cancer management in Africa remains a challenge due to inadequate resources and infrastructure for prevention, diagnosis, and treatment. However, amidst these challenges, there is a ray of hope in the form of biotech startups that can harness innovative technologies and approaches to provide homegrown cancer care solutions in Africa. Investing in oncology startups could be a game-changer in the fight against cancer and significantly reduce morbidity and mortality rates on the continent.
The major advantage of investing in cancer biotech startups is the development and implementation of innovative cancer solutions tailored to the unique challenges faced by Africans. These startups will leverage cutting-edge technologies such as genomics, artificial intelligence, and precision medicine to develop new diagnostic tools, treatments, and preventive strategies that are specifically designed for the African population. By focusing on the specific genetic, environmental, and lifestyle factors that contribute to cancer in Africa, these startups can develop more effective and targeted interventions that have the potential to significantly improve outcomes for cancer patients. Another benefit of investing in Africa cancer biotech startups is their potential to drive economic growth and development on the continent. The biotech sector is a rapidly growing industry globally and contributes significantly towards a nation’s gross economic product. By supporting the growth of these startups in Africa, they will lead to creation of jobs, stimulate innovation, and build a more resilient healthcare system. Additionally, successful cancer biotech startups have the potential to attract further investment and partnerships, stimulating economic growth and development that can benefit the entire region.
A quintessential example of a successful cancer biotech startup in Africa is 54gene. 54gene is a Nigerian genomics company focusing on building the world’s largest pan-African biobank. By collecting and analysing genetic data from diverse African populations, it aims to accelerate the development of precision medicine solutions for diseases such as cancer. The startup has already attracted significant investment from both local and international investors. 54gene would undoubtedly make a huge impact on healthcare in Africa and beyond.
Many African nations face a plethora of challenges in terms of access to healthcare services, particularly in rural and under-served areas. Through cancer startups, Africa can develop innovative and cost-effective solutions and ensure that more people have access to affordable and effective cancer care. This will help to reduce cancer morbidity and mortality rates and improve overall health outcomes in Africa. However, investing in cancer biotech startups in Africa is not going to be a streamlined path. The biotech industry is inherently risky with approximately 10% chances of commercial success. Africa is also riddled with regulatory and infrastructure challenges that continue to make it difficult for startups to germinate and flourish. African governments and investors must take some huge risks and provide the necessary support and resources as the potential rewards are significant, and the effect could be transformative for the continent’s healthcare system.
Biotech startups built by Africans on their own soil hold a pivotal potential in reducing cancer morbidity and mortality rates, drive economic growth and development, and improve access to cancer care for millions of Africans.