USA – MedGenome, a Bangalore, India-based genetic diagnostics, research, and data company, raised $50m in funding.
The round was led by Novo Holdings, with participation from LeapFrog Investments, and Sofina.The company intends to use the funds to broaden its product offering and improve the reach of its key diagnostic services, including reproductive and oncology services, as well as the enhancement of MedGenome’s bioinformatics and SaaS offerings. Led by Mahesh Pratapneni, CEO, MedGenome is a provider of genomic solutions for populations in South Asia and provides advanced genetic testing and bioinformatics solutions to patients, pharmaceutical companies, and research institutions around the world. Its genetic testing provides insights into complex, noncommunicable diseases to aid in the drug discovery and clinical trials for treatment in the areas of oncology, diabetes, ophthalmology, cardiology, and other rare diseases. To date, the company has administered more than 300,000 complex genetic tests and served over 200,000 patients. MedGenome obtains samples from nearly 4,000 hospitals and 10,000 physicians across the globe. 30/08/2022
