MedGenome gets $30 M series C fund­ing

BioSpectrum (India) - - START-UP NEWS -

Ben­galuru-based ge­nomics re­search and di­ag­nos­tics com­pany MedGenome has se­cured $30 mil­lion in Series C fi­nanc­ing led by Se­quoia In­dia and So­fina s.a. The round also saw par­tic­i­pa­tion from Zodius Cap­i­tal, Kris Gopalakrishnan of Infosys, and Lak­shmi Narayanan, for­mer CEO of Cog­nizant. The health tech startup will use the pro­ceeds to ac­cel­er­ate de­vel­op­ment of its af­ford­able di­ag­nos­tics tests.

MedGenome will also tackle mar­ket pen­e­tra­tion by in­creas­ing cus­tomer aware­ness on the im­por­tance of ge­netic tests. Ad­di­tion­ally, the fund­ing will also be used to broaden biomarker dis­cov­ery pro­grammes.

The ge­nomics-driven re­search and di­ag­nos­tics com­pany aims to im­prove global health by de­cod­ing the ge­netic in­for­ma­tion con­tained in an in­di­vid­ual’s genome. Its ac­cess to ge­nomics data with clin­i­cal and phe­no­typic data pro­vides in­sights into com­plex dis­eases at the ge­netic and molec­u­lar level to fa­cil­i­tate re­search in per­son­alised health­care.

Its di­ag­nos­tics tests in­clude many firsts for ge­netic di­ag­nos­tics in In­dia, in­clud­ing first liq­uid biopsy On­coTrack for mon­i­tor­ing cancer treat­ment, a non-in­va­sive pre­na­tal screen­ing test (NIPT) for preg­nant women, and whole ex­ome se­quenc­ing test for iden­ti­fy­ing mu­ta­tions in rare dis­eases.

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