- The company has also added Navjeewan Khosla from Novo Holdings as Board Observer.
- The company had announced a $50 million Series D investment led by Novo Holdings in August 2022.
BANGALORE, India, Nov. 2, 2022 /PRNewswire/ -- MedGenome is a leading provider of genomic solutions for populations in South Asia and provides advanced genetic testing and bioinformatics solutions to patients, pharmaceutical companies, and research institutions around the world. The company has announced the appointment of Dr. Amit Kakar MD, from Novo Holdings to its Board of Directors. This announcement comes on the heels of MedGenome's $50 million funding round led by Novo Holdings in August 2022. They have also appointed Navjeewan Khosla, Principal, Novo Holdings as Board Observer.
Dr. Amit Kakar is Senior Partner, Head of Novo Holdings Asia, and a healthcare professional with over 30 years of experience across key verticals including Medical Technology, R&D, Manufacturing, Pharma Retail, Drug Discovery, Clinical Research, Biotech, Hospitals and Diagnostic Centers, Primary and Specialty Care Centers, among others. His diverse experience also encompasses investing, operational and management roles across health-tech companies. He is currently part of the Board of Directors of Singapore-based life science company, ESCO, telemedicine portal – Doctor Anywhere and leading health tech firm Qure.ai. As a Senior Partner, Dr. Kakar's expertise will help accelerate MedGenome's expansion plans.
Novo Holdings, the holding and investment company of the Novo Nordisk Foundation is a leading international life science investor, with a focus on creating long-term value. It provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Headquartered in Copenhagen, Denmark, with offices in San Francisco, Boston, London and Singapore, Novo Holdings has a portfolio of more than 150 life science companies.
Dr. Amit Kakar, Senior Partner, Head of Novo Holdings Asia said, "MedGenome's journey in the field of genomics has been very impressive. The company's mission to transform the future of personalized healthcare making genetic testing affordable and accessible across the different strata of society and creating awareness among the clinician community is in line with Novo's investment strategy. I am looking forward to working closely with the team and my fellow board members on this next exciting phase of MedGenome's expansion journey."
Navjeewan Khosla, Principal, Novo Holdings said, "We are very excited to partner with the MedGenome team. We believe in their vision to leverage the power of genomics for better management of inherited disorders. Personalised healthcare can now be made accessible and affordable to all. We are in perfect agreement with MedGenome's expansion strategy, and I look forward to working together to achieve new heights of success for all of us."
"In embarking on the next phase of our journey, we are delighted to have Dr. Amit and Navjeewan on board. Their vast industry knowledge and experience will be of significant support to take MedGenome to newer heights as well as to foray into new geographical markets. Together, we can scale-up access and affordability to state-of-the-art genomic testing," said Mahesh Pratapneni, Co-founder and Group CEO of MedGenome.
"MedGenome's mission to expand the global genomic dataset to aid in the development of more inclusive and equitable research & drug discovery is critical to the future of global healthcare. Dr. Amit's experience will help us advance our global expansion plans," said Dr. Felix Olale, Chairman of MedGenome's Board of Directors, and Global Co-Lead for Healthcare Investments at LeapFrog Investments.
Previously, Dr. Amit served as Head of M&A and Business Development at Everlife Asia in Singapore, was Head of Healthcare Investments at Avenue Capital Group and served in several senior leadership roles at GE Healthcare. As a member of the board of directors, he joins Neeraj Bhargava of Zodius Capital, Tejeshwi Sharma of Sequoia Capital, Sam Santhosh, the founder, Felix Olale from LeapFrog, as well as Mahesh Pratapneni, the co-founder and chief executive officer of MedGenome.
In addition to expanding its product offerings, MedGenome intends to enhance the reach of its key diagnostic services, including reproductive and oncology, as well as to expand its bioinformatics and SaaS capabilities.
MedGenome, the market leader in South Asia, is a genomics-driven research and diagnostics company with a mission to improve global health by decoding the genetic information contained in an individual's genome. Its unique access to genomic, clinical, and phenotypic data provides insights into complex diseases at the genetic and molecular level in order to transform the practice of personalized medicine and clinical drug discovery.
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