MedGenome raises $20M series B round from Sequoia Capital
Bengaluru-based MedGenome is a player in genomics-based diagnostics in India and is a leading provider of genomics research services globally. The company has 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’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).
MedGenome is a pioneer in introducing genomic technologies in the country. For instance, 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 clinical and research focus into population-specific variants drive genomics insights into underlying genetic reasons for disease conditions.
“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.
Biotechnology, genetics, etc are not areas about which one hears a lot in the startup space. Be it Kiran Mazumdar Shaw's work or a one-off biotech company getting funded, the news pieces are few and far between. The $20 million series B into MedGenome by Sequoia is a bright development, stay tuned to here more developments in the sector.