MedGenome, the Leading South Asian Genetic Diagnostics, Research and Data Company Announces USD 55m Investment Led by LeapFrog - Seite 2

The MedGenome transaction was led by Dr. Felix Olale, Global Co-Lead for healthcare investments at LeapFrog. Dr. Olale said, "We are very excited to partner with MedGenome to increase access to affordable and high-quality genetic testing for emerging consumers in Asia and Africa. Genomic sequencing will anchor the future of medicine and we must include other underrepresented genomes not only because it drives access, but also because it improves the accuracy for everyone. As the leading player in its field, we believe that our investment will enable MedGenome to rapidly consolidate its position in Asia and become a significant player in the global market for drug discovery and precision medicine. Our investment will also drive the development of new drug discovery platforms that will have an enormous impact on cancer and cardiovascular disease.This investment is in line with LeapFrog's consumer health approach and will be a key addition to the portfolio in terms of both returns and impact. Furthermore, it is a strong fit for LeapFrog's impact mandate via increasing the availability of essential diagnostics in emerging markets and creation of new drug targets for intractable diseases globally." 

The company's latest research findings about Asian populations, in partnership with GenomeAsia 100K, was published as a cover article in the December 2019 issue of Nature magazine¹. The paper is now a strong reference base and discussion point for scientists working globally on genomics. The increased diversity captured in MedGenome's genetic datasets will drive discovery of new gene-disease associations, drug targets, and novel therapies.

The investment in MedGenome will seek to capitalise on the favourable dynamics in both the domestic and international markets for genetic diagnostics. The Indian genetic diagnostics market is expected to expand at 42% CAGR over the next five years. Globally, the market is expected to grow from USD 13bn in 2019 to USD 28.5bn by 2026 driven by improving penetration, affordability and increasing consumer awareness.

About MedGenome

It is a genomics-driven research and diagnostics company with a mission to improve global health by decoding the genetic information contained in an individual's genome. Its unique access to genomics data with clinical and phenotypic data provides insights into complex diseases at the genetic and molecular level to facilitate research in personalized healthcare. MedGenome is the market leader for genetic diagnostic testing in India.