Sequoia-backed Startup Medgenome Develops DNA Test to Identify All Drug Resistance Mutations in TB

DNA diagnostic startup MedGenome Labs claimed on Thursday it has developed a DNA test to identify all drug resistance mutations in tuberculosis (TB).

MedGenome, which counts Sequoia Capital and HDFC Group as its investors, claimed that 'SPIT SEQ' developed by it is the first Whole Genome Sequencing based test that can provide a detailed analysis of every single mutation present in any tuberculosis bacteria causing drug resistance-directly from the sputum.

This would enable a doctor to quickly and accurately prescribe the most effective drug to a tuberculosis patient without a trial and error process, it further claimed.

"India has the largest number of multi drug resistant (MDR-TB) TB cases. SPIT SEQ can be a boon for TB patients, clinicians and healthcare agencies to achieve India's Sustainable Development Goal (SDG) of elimination TB by 2025," MedGenome said.

The company said the test has been validated with over 100 samples where it recorded with 100 per cent sensitivity and 98.04 per cent specificity when compared with Line Probe Assay (LPA).

50 out of those samples were in association with P D Hinduja Hospital and Medical Research Centre, Mumbai, it added. PTI GMS RS

DNA Diagnostic Startup Medgenome Raises $10 Mn From HDFC Group

Bengaluru-based DNA diagnostic and screening startup MedGenome Labs today announced a USD 10 million capital infusion from HDFC and its subsidiaries HDFC Life and HDFC Asset Management Company, completing its $40 million Series C round of funding.

The startup which is backed by Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan, will use the freshly raised funds to expand the clinical genomic testing market by penetrating small towns.

MedGenome, which claims to have completed over 1,00,000 genomictests, aims to democratise critical genetic tests like noninvasive pre- natal screening and newborn genetic testing.

Further, the startup plans to establish more genetic centres in many hospitals to support clinicians and to enable patients to take informed decisions, said the startup in a statement to daily news.

“We believe understanding genetic information can have a big impact on the Indian healthcare industry through early detection of disease risk and development of new medicines,” said Deepak Parekh, chairman, HDFC Group, in a media statement.

The above development was first reported in Outlook.

Founded in 2013 by Sam Santosh, Medgenome is a subsidiary of Kerala-based SciGenom Labs Pvt. Ltd and had raised $4 million in its Series A round from Emerge Ventures and Papillon Capital in 2013 followed by a $20-million Series B round of funding from Sequoia Capital, in 2015. The startup has raised a total of about $94 million, till date.

The startup, which is present in both India and the US, claims to operate the largest next-generation sequencing (NGS) lab in Southeast Asia, and a CLIA-certified, CAP-accredited sequencing lab in California.

Genetic sequencing is in nascent stage in India nevertheless there a few startups working in this domain such as Ahmedabad based Xcelris and Chennai-based Xcode Life Science.

Another similar startup iGenetic Diagnostic Pvt Ltd had secured funding of around ₹130 crore from Manipal Education and Medical Group and UK firm CDC Group plc, in March 2017.

DNA Diagnostic Startup Medgenome Raises $10 Mn From HDFC Group

Bengaluru-based DNA diagnostic and screening startup MedGenome Labs today announced a USD 10 million capital infusion from HDFC and its subsidiaries HDFC Life and HDFC Asset Management Company, completing its $40 million Series C round of funding.

The startup which is backed by Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan, will use the freshly raised funds to expand the clinical genomic testing market by penetrating small towns.

MedGenome, which claims to have completed over 1,00,000 genomictests, aims to democratise critical genetic tests like noninvasive pre- natal screening and newborn genetic testing.

Further, the startup plans to establish more genetic centres in many hospitals to support clinicians and to enable patients to take informed decisions, said the startup in a statement to daily news.

“We believe understanding genetic information can have a big impact on the Indian healthcare industry through early detection of disease risk and development of new medicines,” said Deepak Parekh, chairman, HDFC Group, in a media statement.

The above development was first reported in Outlook.

Founded in 2013 by Sam Santosh, Medgenome is a subsidiary of Kerala-based SciGenom Labs Pvt. Ltd and had raised $4 million in its Series A round from Emerge Ventures and Papillon Capital in 2013 followed by a $20-million Series B round of funding from Sequoia Capital, in 2015. The startup has raised a total of about $94 million, till date.

The startup, which is present in both India and the US, claims to operate the largest next-generation sequencing (NGS) lab in Southeast Asia, and a CLIA-certified, CAP-accredited sequencing lab in California.

Genetic sequencing is in nascent stage in India nevertheless there a few startups working in this domain such as Ahmedabad based Xcelris and Chennai-based Xcode Life Science.

Another similar startup iGenetic Diagnostic Pvt Ltd had secured funding of around ₹130 crore from Manipal Education and Medical Group and UK firm CDC Group plc, in March 2017.

Diagnostics Startup MedGenome To Raise $10 Mn In Series C Round Led By Sequoia

Bengaluru-based genomics research and diagnostics startup Medgenome Labs is in the process of raising around $10 million (about ₹65 crore) in its Series C funding round. The investment is expected to led by Sequoia Capital. In August this year, the startup had already raised $30 million in a funding round led by Sequoia India and Sofina.

While further information is not available regarding the plausible funding round, however if funding takes place then this will mark the second leg of funding in the Series C round and it is believed that the startup will use the proceedings of this round to fund its expansion plans.

"In August this year, in Series C funding round, we have raised $30 million and raising another $10 million soon. The round saw investment from Sequoia India and Sofina, with participation from Zodius Capital, former Infosys CEO Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan.", said Sam Santhosh, Founder & Chairman of Medgenome.

He further added that, “we will use the funds to accelerate the company’s journey towards biomarker discovery programmes and also reach the precision medicine."

Founded in 2013, MedGenome Inc. is a genomics-based diagnostics and research company delivering the best of health care by decoding genetic information contained in an individual’s genome.

In total, Medgenome has raised $54 million in three rounds from 6 investors including Sequoia Capital, Papillon Capital and Zodius Capital, among others.

Founded in 2013, MedGenome Inc. is a genomics-based diagnostics and research company delivering the best of health care by decoding genetic information contained in an individual’s genome. On the other hand, its lab in Silicon Valley offers sequencing platforms, bioinformatics, computing, and big data analytics.

MedGenome currently has more than 360 employees across its headquarters in Foster City, California and its offices & labs in Bangalore, Delhi, and Singapore.

Research And Diagnostics Testing Firm MedGenome Secures $30 Mn In Series C Funding

Genomics-based diagnostics and research firm MedGenome has raised $30 million (Rs 192 crore) in a Series C round led by existing investor Sequoia Capital and Sofina SA.

The round also saw the participation of existing investor Zodius Capital. Apart from them Infosys co-founder and former CEO Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan, too contributed to the round in their individual capacities.The latest round will help

The latest round will help the firm to accelerate development of the company’s affordable diagnostics tests and expand the market penetration by increasing customer awareness on the importance of genetic tests. Additionally, the funding will also be used to broaden biomarker discovery programs.

Commenting on the development, Sam Santhosh, Founder, and Chairman of MedGenome said, “Precision medicine is the ultimate goal of clinicians and patients alike which can be enabled through extensive biomarker discovery. We have established leadership in genetic diagnostics for inherited diseases in India. We will now expand DNA based testing to cover infectious diseases like tuberculosis.”

The investors see this partnership as an exciting opportunity in the development of precision medicine. “We are excited to continue this partnership that will strengthen its proposition to consumers and doctors in these markets,” Abhay Pandey, Managing Director, Sequoia Capital India Advisors.

Founded in 2013, MedGenome’s approach is two fold — on the one hand, it provides a range of genetic diagnostic tests in India, including prenatal, pediatric inherited disorders, and oncology testing. On the other hand, its lab in Silicon Valley offers sequencing platforms, bioinformatics, computing, and big data analytics.

Till date, the Bengaluru-based startup has raised a total of $54 million. MedGenome currently has more than 360 employees across its headquarters in Foster City, California and its offices/labs in Bangalore, Delhi, and Singapore.