Biotech company MedGenome raised USD 30M for Series C
MedGenome
Founders: Sam Santhosh
Founded in: 2013
Financing status: USD 30 million for Series C round in 2017
Bangalore-based biotech company, MedGenome Labs Pvt. Ltd., raised USD 30 million for a Series C funding round led by existing investor, Sequoia Capital, and new investor, Sofina SA. The round also saw the participation of existing investor, Zodius Capital. Infosys co-founder and former CEO, Kris Gopalakrishnan, and former Cognizant CEO, Lakshmi Narayanan, also participated in the round.
MedGenome Labs was founded in 2013 by Sam Santhosh. Its team consists of biologists, bioinformaticians, and statisticians who analyze omics data to enable research projects by global pharma and biotech companies.
MedGenome is a genomics-driven research and diagnostics company aiming to improve global health by decoding the genetic information contained in an individual’s genome. Its genomics solutions accelerates drug discovery research for pharma and biotech companies. The company’s access to genomics data with clinical and phenotypic data provides insight into complex diseases at the genetic and molecular level to facilitate research in personalized healthcare.
MedGenome Labs provides genetic diagnostic testing and claims to be the market leader in India and South Asia. It applies Next Generation Sequencing (NGS) techniques to large disease cohorts in cancer, eye, and neurological disorders, diabetes, cardiovascular diseases and rare cancers. The lab based in Bangalore claims to be the highest throughput lab in South East Asia. It offers more than 300 genetic tests across different disease areas such as oncology, neurology, cardiology, and rare diseases. MedGenome has two labs in India – one 10,000 sq. ft. in Bangalore and the other 5000 sq. ft. lab in Cochin.
The company will use the newly raised investment to accelerate the development of its diagnostics tests, to raise people’s awareness about the importance of genetic tests, and to broaden biomarker discovery programs.
(Photo from Flickr)