Deal Street

March 10, 2018

MedGenome Raises $ 10 mn Funds From HDFC


Leading genetics diagnostics firm MedGenome Labs Ltd said it has completed its Series C round of $40 million after getting an additional $10 million from private lender HDFC Ltd, insurer HDFC Life and HDFC Asset Management.

"We believe understanding genetic information can have a big impact on the Indian healthcare industry through early detection of disease risk and development of new medicines. We are happy to see an Indian company take a lead in a deep technology area such as genomics and have decided to support MedGenome in its endeavour to make genetic tests affordable and accessible widely," said Deepak Parekh, Chairman, HDFC Group.

Argus Partners with the team led by Partner Adity Chaudhury along with Associates Deeya Ray, Ashish Patel, Riya Dutta and Abhisek Mohanty advised HDFC and its associates.

Themis Associates acted for MedGenome Labs Pvt. Ltd.

As the largest sequencing lab in South East Asia, MedGenome services global pharmaceutical and biotech firms the world over. Its lab is certified by the Clinical Laboratory Improvement Amendments and accredited with the College of American Pathologists.

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