MedGenome, a Bangalore-based genomics research startup has raised $50 Mn as part of a strategic investment round headed by life sciences investor Novo Holdings.
MedGenome is a genomics research and diagnostics firm which provides a wide range of goods, such as services for drug discovery and genetic testing.
The funds will be used by MedGenome to increase the scope of its diagnostic services in the oncology and reproductive fields and to diversify its product line. Additionally, it will make investments to improve its software-as-a-service (SaaS) and bioinformatics services. It will additionally use the funding to extend its geographic reach into Africa and the Middle East in addition to South Asia.
As they expand into new foreign markets and increase access to inexpensive and life-changing testing, they are overjoyed to have the backing of the leader in global life sciences investing.
The business says it has over 700 clinical geneticists, genome analysts, and bioinformatics engineers on staff and that it offers more than 1,300 genetic tests for a variety of diseases. It claims to have serviced more than 2 lakh patients and administered more than three lakh complicated genetic testing. The firm has connections with more than 4,000 hospitals and more than 250 suitable locations across South Asia.
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