Medgenome

active

MedGenome Inc. (the “Company”), is a USA incorporated genetic diagnostics, research, and data licensing enterprise. It has a corporate office in Foster City, California. The Company established its Indian operations - MedGenome Laboratories Limited (MLL) - at Bengaluru in the year 2013; and is active in genomics and clinical data driven diagnostics and research with a focus on next generation sequencing (NGS).The Company had set-up a full-fledged genetics and diagnostics laboratory facility in Bengaluru, which offers genetic testing, genome sequencing, molecular diagnostics, and related services. The Company has set-up small satellite labs in other locations such as Mumbai, Cochin, Hyderabad etc. The diagnostic samples collected from customers/patients through its network of 1600+ hospitals and 5500+ clinicians in India are received at its lab facilities through third party commercial logistic service providers. The Company offers 475+ genetic tests across several disease categories such as paediatrics, neurology, oncology, haematology, endocrinology, nephrology, ophthalmology, etc. The proposed IFC investment in the Company involves preferred equity investment of up to US$16.5 million. IFC investment is to be deployed to build capacities and capabilities in: 1) developing diagnostics business unit (BU) operations such as: (i) geographic expansion to neighbouring countries around India (ii) screening and direct to consumer (DTC) test launch and (iv) small acquisitions and partnerships; and 2) developing Research and Data BU operations such as: (i) enriching SARGAM (South Asia Research Genotyping Array) Biobank; (ii) building informatics infrastructure; and (iii) enhancing disease specific deep data sets (the “Project”).