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Pharmacogenomics Firm Prenetics Raises $10M

NEW YORK (GenomeWeb) – Prenetics, a Hong Kong-based pharmacogenomics firm, announced today that it has raised $10 million through a Series A financing round.

The round was led by Ping An Ventures, the VC arm of China's Ping An Insurance Group. Other investors included Venturra Capital and Capital Union Investments, as well as existing investors 500 Startups and Coent Venture Partners.

Prenetics currently markets iGenes, a test designed to use a patient's genetic profile to guide prescription drug choices and dosages. The company said the funding would aid its expansion into China and Southeast Asia.

"The strategic investment by Ping An and Venturra is a huge win for us," Prenetics CEO Danny Yeung said in a statement. "Over the coming months, we'll be bringing new products and services out that will continue to shape the future of healthcare."