MedGenome, a Foster City, California-based genetic diagnostics, research and data company focused on expanding access for populations in South Asia and other emerging markets, raised USD$55m in funding.
The round was led by LeapFrog Investments, with participation from existing investors Sofina and Sequoia. The transaction was led by Dr. Felix Olale, Global Co-Lead for healthcare investments at LeapFrog.
The company intends to use the funds to expand access in Tier-II and Tier-III towns and cities across India and accelerate its drug discovery programs.
Led by Sam Santhosh, CEO and Founder, MedGenome is a genomics-driven research and diagnostics company with a mission to improve global health by decoding the genetic information contained in an individual’s genome. Its access to genomics data with clinical and phenotypic data provides insights into complex diseases at the genetic and molecular level to facilitate research in personalized healthcare. The company has already built a large database of South Asian genetic variants through its leadership in genetic diagnostics in India, research partnerships and work as a co-founding member with GenomeAsia 100K. MedGenome has completed over 200,000 genomic tests to date and obtains samples from more than 550 hospitals and 6,000 clinicians across India.