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MedGenome Raises $4M in Private Financing Round

NEW YORK (GenomeWeb) – MedGenome, a next-generation sequencing and informatics services provider, said today that it raised $4 million in Series A funding from investors.

The company said that it will use the funds to continue building its bioinformatics infrastructure, enhance its facilities in India and abroad, extend its sales footprint, and execute related capital expenditures.

Founded in 2012 and incubated by SciGenom Labs, MedGenome provides sequencing and data analysis services to cancer researchers at pharmaceutical companies and hospitals to help with disease risk assessment, management, treatment, and patient outcomes.

"The new resources from this investment round will enable us to expand our research and make our tools more widely available to clinicians and hospitals developing personalized treatment strategies for cancer patients around the world," Sam Santhosh, MedGenome's chairman and CEO, said in a statement.

The round was led by Papillon Capital’s Kartik Kumaramangalam and Emerge Venture’s Mahesh Pratapneni with investments from Dmitri Mehlhorn, the former president of Bloomberg BNA Legal; Ambiga Dhiraj, co-founder of MuSigma; Tim McLaughlin, CEO of Siteworx; and Dan Peterson, former CEO of CASHNet.

Mehlhorn and MuSigma CEO Dhiraj Rajaram will join MedGenome's board of directors.