The Future Of Cancer Testing Is Here

Issue #32

November 14th, 2023

Quick Hits:

🎉 Hey party people, dog parties are kickin’ off

❄️ Here are some dogs plowing through snow to brighten up your day

📖 Kids reading to service animals is too cute

🐈 How to know if your kitty is in a gang

💰 Rover fetches strong earnings

🇸🇬 Singapore’s Pampered Pets are on another level

• Check please - A Czech startup just became the first company to secure EU registration for lab-grown meat.

• Pizza to pets - A Nebraska couple sold their Papa Johns's locations to focus on the pet industry.

• Filu - This pet tech startup just raised €5.1m led by DN Capital.

• Giving Back - Giving Paws is donating 100% of net profits to animal rescues.

• General Mills - The giant makes its foray into the pet industry with the acquisition of Fera Pets.

• Hills - The pet food company recently announced the opening of their “smart factory” in Tonganoxie, Kansas.

• $200M - Mars is expanding its pet-care manufacturing plant in Tennessee.

• Lookin’ fabulous - Woof Gang has introduced an exclusive line of proprietary professional grooming products.

• Dog saved - Watch what your dog eats when out for a walk.

• Save the soil - Former vampire and pet brand Nutro urge pet parents to protect the soil.

• A worthy goal - Fetch Pet Insurance partnered with Best Friends Animal Society to end the killing of dogs and cats in America's shelters by 2025.

• Vets warn - Respiratory infections are on the rise.

• Dogs Dancing - A new show premieres Nov 17 centered around, you guessed it… the world’s greatest dancing dog show.

• Hero of the Year - This great Dane was awarded the honor for his humane work.

• Poor lil’ ones - Hundreds of small animals who were supposed to be adopted, somehow ended up becoming reptile food.

• Talking to your cat - Can this app translate cat “speech”?

This week we interviewed Chan Namgong, the founder & CEO of Oncotect

1. Please explain Oncotect, and why you decided to pursue this ambitious endeavor.

Oncotect is the world’s first at-home canine cancer screening test that enables early screening in dogs, improving treatment outcomes and offering peace of mind to pet parents through user-friendly at-home testing kits. This proactive approach enhances dogs' quality of life and empowers pet parents to address health issues proactively.

My personal journey into the realm of cancer research began when my mother battled breast cancer seven years ago (fortunately, she's now cancer-free). This challenging experience ignited my passion for delving into the intricacies of cancer detection and diagnostic research. During my exploration, I stumbled upon a remarkable study where a team of scientists utilized a humble nematode known as C. elegans to detect cancer in human medicine, which immediately piqued my interest.

However, rather than pursuing a career in human medicine, I decided to channel my enthusiasm towards the field of veterinary medicine. In 2019, I recognized a significant gap in cancer screening for dogs, with no available tests. This realization motivated me to embark on a mission to find a solution that could enhance the lives of our canine companions.

2. Did you have a background in medicine? If not, what were your first steps in figuring out what to do initially?

While my background doesn't lie in the medical field, I am a seasoned entrepreneur, having embarked on four ventures to date. I've always held the belief that venturing into unfamiliar industries can be a rewarding challenge. With determination and dedication, one can acquire a wealth of knowledge, and a fresh perspective can often be a valuable asset.

My initial steps in navigating this new terrain involved identifying and recruiting individuals with expertise in the pet care industry. I proactively reached out to veterinarians, veterinary oncologists, and scientists to gain invaluable insights. Their guidance and support have proven instrumental on my journey thus far, and I continue to be deeply appreciative of their assistance."

3. What is the process of launching and scaling a startup in the pet health space and how does it differ from other tech spaces?

Our initial focus was on validating and demonstrating the effectiveness of our technology to veterinarians, which we recognized as our top priority from the outset. After successfully completing this validation process, we took a significant step by publishing our findings in a peer-reviewed journal. This publication greatly bolstered our credibility within the veterinary and scientific communities.

Ultimately, regardless of the industry you're in, it's imperative to actively listen to your customers and address their specific challenges. This customer-centric approach has been a guiding principle in our journey.

4. What is the process for pet parents who want to test their pets?

Pet parents can take the test at select animal hospitals now or order a testing kit online. The urine collection process is quick and hassle-free, thanks to our user-friendly collection tools and clear instructions. Upon collecting a small urine sample, pet parents can send it to our lab, and we deliver accurate results to them within 7 business days. Our test result shows an easy-to-understand risk assessment, categorizing pets as low, moderate, or high risk. We also offer guidance for veterinarians and pet parents on the appropriate next steps. Throughout the entire process, we are dedicated to keeping veterinarians informed and involved. Additionally, we are in discussion with telemedicine companies to support pet parents who may not have access to local veterinary services.

5. Do you see the company expanding or being relevant to other animals or even humans perhaps?  

Yes, we plan to study felines and equines in the near future. As far as human goes, at this point, we want to focus on companion animals. 

PAWS right there!!! Don’t forget to subscribe 👇👇

• Planet Pet - Vafo Group is rolling out a new brand of sustainable dog and cat foods.

• Sustainable Packaging - The Pet Sustainability Coalition launched its official marketplace in an attempt to help pet food companies reduce waste.

• Crickets - Are they beneficial to a dog’s gut health or not?

1. You were accepted into Leap Venture Studio's accelerator program, how did that help your growth & development, and would you advise other entrepreneurs to try and do the same?

My experience with Leap Venture Studio (LVS) proved to be truly transformative for both myself and Oncotect. The entire team at LVS has been incredibly supportive and genuinely invested in our success. Their unwavering commitment has not only opened numerous doors for us but also facilitated invaluable connections within the industry.

For anyone embarking on the journey of launching a company in the pet care sector, I wholeheartedly endorse LVS as a crucial resource. My enthusiastic recommendation stems from the remarkable impact they've had on our growth and development.

2. If you could go back to the beginning of Oncotect, what is one thing you would have done differently?

I wouldn't change a thing about our journey. Every challenge, setback, and mistake has been a valuable learning opportunity, and I believe that we would have encountered and learned from them one way or another. These experiences have contributed to our resilience and strength, shaping us into the individuals and professionals we are today.

3. how much $$ have you raised so far? Could you share some details about your fundraising process, from identifying potential investors to securing funding?

During the initial two years of our business journey, I self-funded our operations. We subsequently secured $200,000 in equity funding from Leap Venture Studio (LVS). Additionally, we've been fortunate to receive grants totaling $160,000 from NC IDEA and an unsecured loan from the NC Biotechnology Center.

At present, we are seeking pre-seed funding through SAFEs or Convertible Notes, with a target raise of $750,000. It's encouraging to note that we have received significant inbound interest from potential investors. If you're interested in joining our venture, please don't hesitate to reach out to me directly.

Believe in yourself!

You reached the end, you deserve a treat 🍖

Be part of the pack - For more news, links, and entertainment follow us on social media (links below) and fur - ward this to your best human friend.

If you haven’t already, consider subscribing below 👇

Finally, Dogs can't operate an MRI machine but cat scan.

See you next week!

The Woof is a weekly newsletter dedicated to covering the pet industry.