MedGenome Secures $47.5M to Expand Genomic Diagnostics

MedGenome, a genomic diagnostics and research company, raised $47.5M in a Series E funding round led by Maj Invest and Novo Holdings. The funds will help expand access to genomics and diagnostics solutions in India and emerging markets, reflecting a shift towards personalized healthcare.

MedGenome, a prominent genomic diagnostics and research firm, announced on Monday that it has successfully raised $47.5 million in a Series E funding round. This financial boost comes partially from private equity firm Maj Invest as well as established investor Novo Holdings.

The funding round also witnessed participation from Sofina, an existing shareholder, according to a statement released by the Bengaluru-based company. The additional capital aims to enhance the availability of MedGenome's genomics and integrated diagnostics solutions across India and other developing regions.

CEO Vedam Ramprasad emphasized that the investment highlights the growing implementation of genomics in the realm of personalized and preventive healthcare within India and other emerging markets. MedGenome currently offers over 1,300 advanced genetic tests spanning key areas such as oncology, inherited diseases, reproductive health, infectious diseases, and preventive wellness.