Dealflow | April 1, 2020

LeapFrog leads $55 million investment in MedGenome to expand genetic testing

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ImpactAlpha, April 1 – The Indian subcontinent makes up about 20% of the world’s population, but only 0.2% of the DNA sequences in global genetic databases.

Bangalore-based MedGenome is expanding early disease risk detection, inherited disease prevention and health care personalization to India’s smaller cities and other emerging markets, “where the burden of many inherited and complex diseases is even higher than in western markets,” says MedGenome’s Sam Santhosh.

Emerging markets-focused impact investors LeapFrog has led a $55 million funding round for the company. Existing investors Sofina and Sequoia also participated.

“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,” says LeapFrog’s Felix Olale.

LeapFrog last year closed a $700 million fund for healthcare and financial services.