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InformedDNA Nabs $4.5M Investment

NEW YORK (GenomeWeb) – Genetics services firm InformedDNA today said that it has reached a $4.5 million funding agreement with Blue Cross Blue Shield of Massachusetts' wholly owned subsidiary Zaffre Investments.

InformedDNA will use the funds to expand its use of information technology in order to improve the efficiency and capacity of its genetics benefits utilization management capabilities. The company added that the investment also will go toward the management of its rapid growth.

"InformedDNA will be able to serve patients more quickly while improving care quality and preventing waste and excess costs," the company's CEO David Nixon said in a statement. Among the products and services the company provides are clinical genetic counseling, genetic testing utilization management, and personalized hereditary risk assessment and prevention solutions.