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Genomics based research and diagnostics company MedGenome has secured $30 Mn as Series C Funds. The round was led by Sequoia India, Sofina s.a. and syndicates including Krish Gopalakrishnan from Infosys and Lakshmi Narayanan, former CEO of Cognizant. The company is trying to research more into devising simple and easier diagnostic tests which will cost less and shall be affordable to people.
The company works as a Genomic Research Company which means they research genome to cure diseases that usually are unable to cure. Genome is an organism’s complete set of DNA, including all of its genes. Each genome contains all of the information needed to build and maintain that organism. With the funds, the company is looking forward to build their revenue model by increasing consumer awareness around the efficacy of genetic tests. The funding will also lead the organisations to carry their research programmes. MedGenome has raised a total funds of $54 Million including the current Series C Funds.
Speaking on the development Sam Santhosh, founder and Chairman of MedGenome stated, “Precision medicine is the ultimate goal of clinicians and patients alike which can be enabled through extensive biomarker discovery. MedGenome has established leadership in genetic diagnostics for inherited diseases in India. We will now expand DNA-based testing to cover infectious diseases like tuberculosis.”
Medgenome is trying to research and develop deep insights into diseases at the genetic and molecular level. Their research solutions apply genomics technologies, bioinformatics, computing, and big data analytics to the genetically diverse and large South Asian population to understand the genetic basis of cancer, metabolic disorders, eye disorders and other rare diseases.
Recently the company is also trying to research questions in hereditary diseases, cardiovascular complications and neurological disorders. The company is also leading some of the researches in Immuno-Oncology solutions (to curatively treat and eradicate cancer through Genomic Research.