Skip to main content
Premium Trial:

Request an Annual Quote

Genome Medical Raises $23M in Series B Financing

NEW YORK (GenomeWeb) – Telegenetics firm Genome Medical has raised $23 million in a series B financing that it will use to nationally scale its services.

Echo Health Ventures led the financing round, with contributions from new investors LRVHelath, Casdin Capital, Perceptive Advisors, Manatt Venture Fund, and Dreamers Fund. Existing investors, including Canaan Partners, GE Ventures, Illumina Ventures, Kaiser Permanente Ventures, and HealthInvest Equity Partners, also participated in the round.

Jessica Zeaske, an Echo Health partner, will join Genome Medical's board of directors, and Keith Figlioli, an LRVHealth partner, will participate on the board as an observer.

Genome Medical previously raised $12 million in 2017 and $11 million last year in a Series A-1 round. The latest round brings the total amount raised by the company to $46 million.

Genome Medical operates a cloud-based genomic care delivery platform, which allows it to provide virtual access to genetics experts who can screen whether patients need testing and are getting the right type of test, as well as consult with doctors who have questions about genetic testing. The virtual services support patients and doctors in locations with limited access to genetics experts.     

"Patients all across the United States who are in need of genomic medicine are not getting access today," said Genome Medical CEO Lisa Alderson, adding that the additional funds will allow the company to meet growing demand from hospitals and health systems for genetic counseling services.

The Scan

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.