MedGenome, the Leading South Asian Genetic Diagnostics, Research and Data Company Announces USD 55m Investment Led by LeapFrog

- MedGenome is the largest provider of genomic solutions for populations in South Asia and Emerging Markets

- The investment will expand access and affordability of genetic testing services across India

- Globally, the investment will drive creation of more diverse datasets and enable discovery of novel drug targets

FOSTER CITY, California, April 1, 2020 /PRNewswire/ -- MedGenome, the leading genetic diagnostics, research and data company focused on expanding access for populations in South Asia and other emerging markets today announced an investment of USD 55m led by LeapFrog Investments, a leading specialist investor in emerging markets. Existing investors Sofina and Sequoia also participated in the round.

Sam Santhosh, the CEO and Founder of MedGenome, said, "Genomics and personalized medicine are the future of healthcare, but emerging markets remain significantly under-penetrated. As the largest player in India in applied genomics, we are well-positioned to fill this gap." The subcontinent contributes around 20% of the world's population, while the DNA sequences of its people make up only around 0.2% of global genetic databases.

MedGenome has already built the largest 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. This investment will expand the clinical genomic testing market by expanding access in Tier-II and Tier-III towns and cities across India and accelerate the company's drug discovery programs.

Sam added, "Genetics is having a transformational impact on families through early disease risk detection, inherited disease prevention, health care personalization, and new therapy development. MedGenome strives to deliver these benefits to India and Emerging Markets, where the burden of many inherited and complex diseases is even higher than in western markets. We are excited about partnering with the LeapFrog team, who share our focus on profit with purpose, and look forward to leveraging their network and expertise to accelerate achievement of our goals."