International Finance Corporation, member of the World Bank Group, is investing USD 16.5 million (around Rs 123 crore) in genetic diagnostics and research company MedGenome to increase access to COVID-19 testing in India.
In a paper published in Nature Communications, scientists from MedGenome India/USA, along with an international team of scientists from institutions in India, USA, South Korea, Chile and Australia reported sequencing and analysis of over 150 gallbladder cancer (GBC) samples.
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.
MedGenome has partnered with Thermo Fisher Scientific to genotype hundreds of thousands of South Asian cohorts using a custom genotyping array. The personalized medicine company hopes to use the new array to inform new consumer and clinical tests, while also making it available to others for research.