BANGALORE, INDIA: MedGenome, player in genomics-based diagnostics in India has announced $20 million Series B investment from Sequoia Capital.
The investment will support MedGenome in accelerating the expansion of its portfolio of genetic tests, enhancement of sequencing facilities in India and the US, and expanding its collaborative network with speciality hospitals / clinics and genomic research institutions in India.
MedGenome is the exclusive commercial partner for Panorama in India with a pan-India collection network. The NIPT adds to MedGenome’s current offering of more than 100 genetic tests across multiple disease areas such as cancer, eye and neurological disorders, metabolic disease and other rare cancers.
Its clinical and research focus into population-specific variants drive genomics insights into underlying genetic reasons for disease conditions. Its primary expertise in advanced genomics technologies, bioinformatics and big data analytics helps the development of comprehensive gene panels for clinical diagnostics and accurate analysis of genetic data.
“India suffers the largest burden of inherited diseases with about 5-6pc of the children born affected. Further, the adoption of Western lifestyles has largely increased the occurrence of diabetes, cancer and cardiovascular disease”, said Sam Santhosh, CEO, MedGenome. “Our genomic sequencing capabilities and powerful interpretation provide actionable insights to clinicians allowing them to adopt precision medicine in their practice while our research solutions have enabled us to develop deep insights into diseases at the genetic and molecular level.”
MedGenome’s Series A funding round was led by Emerge Ventures. With the conclusion of Series B funding, Abhay Pandey (Sequoia Capital) will join the Board of Directors joining Sam Santhosh, Mahesh Pratapneni (Emerge Ventures) and Dhiraj Rajaram (Mu Sigma).