Bangalore MedGenome

MedGenome

A global leader in genetic testing, research & drug discovery solutions

Industry:

Genomic Testing

Region:

South Asia

300,000 0 +

Genetic tests

200,000 0 +

Patients

10,000 0 +

Clinicians

MedGenome is a global leader in genetic diagnostics, research and data, with a focus on improving the health of populations in South Asia and other emerging markets. MedGenome is committed to delivering world-class genomic solutions with greater precision and accuracy to empower every human being for better management of their health.

India accounts for one third of all rare diseases globally, with roughly one in 20 individuals affected by a rare disorder1. At the same time, rates of non-communicable diseases are also rising at a rapid rate due to changes in lifestyle and increasing urbanisation.

Genetic testing is a powerful tool to identify gene alterations that lead to these rare diseases, allowing patients to take pre-emptive action. It is also critical to the development of more effective treatments for rare disorders. There are over 7,000 rare diseases (80% of which are genetic) and 350 million people globally that suffer from these diseases, but only a small range of new drug treatments have been approved worldwide across recent decades2.

Genetic testing can also help to tailor the use of existing drugs for common ailments like diabetes, heart disease, and high blood pressure. Indeed, many blockbuster drugs tend to be effective for only 30% to 50% of patients using them. In India, improving drug efficacy is vital to relieving the country’s ailing hospital system, with only 0.7 doctors per 1,000 patients3.

However, despite the revolutionary advances in healthcare delivered by genomic testing, in India and other emerging markets this powerful technology has typically been too expensive for average consumers. A lack of adequate screening and diagnostic facilities also exacerbates the challenge of providing genetic tests4.

As a consequence, global genomic databases have focused on developed markets like the UK and US, overlooking the diverse genomes present across South and Southeast Asia5. While India’s people represent 20% of the world’s population, their DNA sequences comprise under 0.2% of information in global genomic databases6.

1 Ministry of Health and Family Welfare, 2021 2World Economic Forum, Flemming Ornskov 2018 3 World Bank, Physicians (per 1,000 people) – India, 2020 4 Ministry of Health and Family Welfare, National Policy for Rare Diseases, 2021 5 Nature, The GenomeAsia 100K Project enables genetic discoveries across Asia, 2019 6 Economic Times, The future of genomics in India, 2023

Next generation sequencing improves the accuracy of diagnosis and treatment for rare diseases in India Next generation sequencing improves the accuracy of diagnosis and treatment for rare diseases in India
Source: MedGenome, 2022.
Next generation sequencing improves the accuracy of diagnosis and treatment for rare diseases in India Next generation sequencing improves the accuracy of diagnosis and treatment for rare diseases in India
Source: MedGenome, 2022.

MedGenome is a genetic diagnostics and research company with a focus on next generation sequencing (NGS). The company has administered over 300,000 genetic tests and served over 200,000 patients.

Founded in 2011, MedGenome has developed a model of accessibility to deliver diagnostic tests to a global standard, at a fraction of the cost of Western providers. MedGenome’s genetic testing provides insights into complex diseases to aid in research and drug discovery for oncology, diabetes, ophthalmology, cardiology, and rare diseases, as well as proving information to aid in early diagnosis and preventative treatment.

The company is the first, largest and most established genomic medicine company in India, with three business segments. It conducts research, provides NGS services for global pharmaceutical companies and academic clients, and licenses it genetic database to build drug discovery platforms.

MedGenome has a significant early mover advantage and has relationships with key specialised hospitals and physicians. To date, the company has obtained samples from over 4,000 hospitals and over 10,000 physicians across the globe. The company has developed a range of over 1,300 genetic tests for reproductive genetics, inherited disease genetics, cancer genetics and infectious disease genetics.

In 2021, MedGenome introduced a direct-to-consumer genomics product called Genessense, which provides genetic and health risk scoring, carrier screening, drug response, and ancestry data to patients. Genessense is similar to consumer genomics and direct-to-consumer diagnostics testing products like 23&Me, but offered at a fraction of the cost due to efficiencies with the scale of the company’s services.

MedGenome is leading a new health revolution in India, and most importantly, working with regional hospitals as well as clinicians to drive expansion into both Southeast Asian and African markets that have limited genomic diagnostic capabilities. This expansion will fuel further inclusivity and expand the global genomic data pool used to design and create effective therapeutics, improving the relevance of therapies for millions of emerging consumers and reducing the non-communicable disease burden.

Genome sequencing process at MedGenome Genome sequencing process at MedGenome
Source: MedGenome, 2022.
Genome sequencing process at MedGenome Genome sequencing process at MedGenome
Source: MedGenome, 2022.

In 2020, LeapFrog invested in MedGenome to help scale the business’s digital platform and improve affordability for emerging consumers.

LeapFrog believes that genomic sequencing will anchor the future of medicine – not only to drive access to care, but to develop an ecosystem that is more reflective of the consumers that global healthcare seeks to serve. The investment from LeapFrog and other investors enables MedGenome to rapidly consolidate its position in Asia and become a significant player in the global market for drug discovery and precision medicine.

Since investment, LeapFrog has assisted with several value creation levers including making introductions through our diverse network and helping the company drive expansion efforts into new markets in South and South-East Asia, the Middle East, Eastern Europe, Africa and United States, enabling the creation of more diverse data sets. In addition, the investment team continues to work with management to evolve the company’s direct-to-consumer marketing strategy.

Talent Accelerator, LeapFrog’s in-house talent development program, is assisting the MedGenome team to evaluate the company’s structure and build a strong management team for the next phase of growth. This includes the appointment of LeapFrog partner Felix Olale as chairman, who has a PhD in genomics, to help build out the company’s strategy.

In September 2022, LeapFrog supported and participated in a follow-on $50 million investment round for MedGenome, led by international life science investor Novo Holdings. This round seeks to expand the company’s reach into Tier 2 and Tier 3 cities in India, and into other emerging markets.

Last updated May 2023.