Genomics research startup MedGenome raised $50 million as part of a strategic funding round led by life sciences investor Novo Holdings where existing investors such as LeapFrog Investments and Sofina also participated.
MedGenome is a genomics research and diagnostics firm that provides a wide range of products, including genetic testing and drug discovery solutions. The funding will be used to expand the startup's geographical footprint beyond South Asia into Africa and the Middle East. MedGenome will also use the funds to expand its product line and expand the reach of its diagnostic services in the reproductive and oncology domains. It will also increase its investments in bioinformatics and software-as-a-service (SaaS).