Nalagenetics, the startup that provides genetic testing solutions in Southeast Asia, today announced the closing of a US$12.6 million Series A funding round.
The funding round was co-led by Intudo Ventures and Vulcan Capital, with participation from strategic investors that include Singapore-based Diagnostics Development Hub (DxD Hub) through the Agency for Science, Technology and Research’s (A*STAR) A*ccelerate Technologies Pte Ltd, and Indonesia-based Dexa International, Diagnos Laboratories, among others.
It followed a US$1 million seed funding round that the company announced in November 2018.
“We are excited to continue advocating the development of cost-effective genetic screening for personalisation of prescription and screening, especially for cardiovascular, neurodegenerative, and cancers as the biggest killers in Southeast Asia. As the momentum for genetic testing and adoption of value-based care is increasing, we see a lot of interest from hospitals and providers that did not exist before,” said Levana Sani, co-founder and CEO of Nalagenetics in a press statement.
The startup plans to use the funding to focus on product development of its proprietary end-to-end software solution Clinical Decision Support (CDS), with the goal to enable whole-genome analysis and integration with more providers and hospitals. It also intends to acquire talents in the field of bioinformatics, software engineering, and genetics.
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Nalagenetics was founded in April 2016 out of A*STAR’s Genome Institute of Singapore’s (GIS) Innovation Fellow programme. Developing end-to-end genetic testing solutions to enable disease prevention, the startup aims to empower healthcare professionals to implement predictive and pre-symptomatic testing for the prevention of commonly detected chronic illnesses in Southeast Asia such as cancers.
With its initial capabilities based on creating affordable genotyping kits and bioinformatics solutions for genetic data interpretation, Nalagenetics now offers end-to-end solutions that include building, implementing, and integrating genetic information in healthcare systems.
Its CDS platform offers multiple modules for healthcare professionals, including a Pre-Test Module to understand which patients need genetic testing; Analysis Modules to process raw data from machines into readable files (CSV format); Reporting Modules to create reports with guideline-compliant recommendations; a Dashboard Module to summarize genetic testing results and inform providers and researchers; and a Post-Test Module to integrate genetic information into healthcare systems.
Nalagenetics’ end-to-end services also include wet-lab protocols, bioinformatics algorithms, clinical recommendations, and API connections, to empower hospitals and labs to run effective genetic testing services
The startup is currently active in Indonesia and Singapore, with plans to expand into Malaysia and other countries this year. It has signed service agreements with over 40+ hospital and clinic partners and is launching its services with its new lab location in Singapore.
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