Mylab Discovery Solutions

About Mylab Discovery Solutions

Mylab Discovery Solutions, established in 2016 by Hasmukh Rawal, Shailendra Kawade, and Sujit Jain, has carved a niche in the biotechnology sector with its focus on molecular diagnostic solutions. The Pune-based company operates with a clear objective: to develop and commercialize diagnostic kits and instruments for laboratories. The business model is centered on the manufacturing and sale of these products, which include RT-PCR kits, reagents for RNA extraction, and point-of-care testing devices, to a client base of hospitals, laboratories, and healthcare providers. Mylab generates revenue through direct sales of its diagnostic products.

The company gained significant prominence in March 2020 when it became the first Indian firm to receive commercial approval from the Central Drugs Standard Control Organisation (CDSCO) for its COVID-19 RT-PCR test kit, named PathoDetect. This milestone positioned Mylab as a critical player in India's response to the pandemic, enabling widespread testing at a more accessible cost compared to imported alternatives. The development and launch of the CoviSelf test kit, India's first self-use rapid antigen test, further solidified its market position, allowing individuals to perform tests at home. Beyond COVID-19 diagnostics, Mylab has expanded its portfolio to include testing for other infectious diseases like HIV, Hepatitis B and C, and offers solutions for human genetics and veterinary diagnostics. This diversification demonstrates a strategic move to address a broader spectrum of healthcare needs within the molecular diagnostics market.

The founding team's background is integral to the company's trajectory. Hasmukh Rawal, the Managing Director, brings extensive experience from the in-vitro diagnostics (IVD) industry. His journey from a research associate to leading a significant diagnostics company reflects a deep understanding of the sector's scientific and commercial aspects. This expertise has been instrumental in navigating the complex regulatory landscape and steering the company's product development strategy. The company's achievements include receiving backing from prominent investors such as Adar Poonawalla and securing strategic partnerships, like the one with the American firm Abingdon Health for the distribution of its COVID-19 self-test kits in Europe.