Series B funding will enable MedGenome to advance the practice of precision medicine in India and expand its research solutions globally
MedGenome, the market leader in genomics-based diagnostics in India and a leading provider of genomics research services globally, today 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 a pioneer in introducing advanced genomic technologies in the country – the latest one being the launch of Natera’s PanoramaTM Non-Invasive Prenatal Test (NIPT) this year. MedGenome is the exclusive commercial partner for PanoramaTM 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.
With a state-of-the art Next Generation Sequencing (NGS) lab in Bangalore, MedGenome offers genomics-based end-to-end diagnostics solutions in India. Its unique 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 5-6% 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.”
“The influx of next generation sequencing and high-throughput data is changing the landscape of computational biology. This has resulted in the need for more robust infrastructure, tools, and techniques for genomic analysis. MedGenome has firmly established itself as a global market leader in genomics-based diagnostics and research from India”, said Abhay Pandey, Managing Director of Sequoia Capital.
Being the first mover in genomics-based diagnostics, MedGenome built relationships with nearly all of the premier hospitals and clinics in India. It now operates the largest privately owned, fully independent Next Generation Sequencing (NGS) lab in India. MedGenome has already grown to become the most advanced player, and is setting the bar high in other emerging markets.
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).