Nalagenetics raises US$12.6M Series A Funding
NalageneticsA Series A financing of US$12.6 million was closed by, a Singapore-based company that provides genetic testing solutions in Southeast Asia. The round was co-led by Intudo Ventures and Vulcan Capital, with participation from strategic investors, including Singapore-based Diagnostics Development Hub (DxD Hub) through the Agency for Science, Technology and Research’s (A*STAR) A*ccelerate Technologies Pte Ltd, and Indonesia-based Dexa International, Diagnos Laboratories among others. Founded in April 2016 out of A*STAR’s Genome Institute of Singapore’s (GIS) Innovation Fellow program, and led by Levana Sani, CEO, Nalagenetics develops end-to-end genetic testing solutions, enabling disease prevention. Its proprietary end-to-end software solution — Clinical Decision Support(™) (“CDS”) — is a stand-alone portal enabling lab providers to analyze sequencing and genotyping data efficiently. CDS provides multiple modules to healthcare professionals. These include a Pre-Test Module that helps to identify patients who need genetic testing. Analysis Modules convert raw data from machines to readable files (CSV format); Reporting Modules that create reports with guidelines-compliant recommendations. A Dashboard Module allows you to summarise genetic testing results and inform researchers. And a Post-Test Module lets you integrate genetic information into healthcare systems. The company is active in its core markets, Indonesia and Singapore. Plans are to expand into Malaysia and other nations this year. The company has already signed service agreements in over 40+ hospitals and clinics and will soon launch its services from its new laboratory location in Singapore. Already, Nalagenetics has developed clinical modules for pharmacogenomics and nutrigenomics and breast cancer risk prediction. It plans to create new modules around polygenic risks scores to address complex conditions as well as the biggest killers in Southeast Asia (cardiometabolic diseases, cancer and neurodegenerative disorders). The company plans to focus the funds on product development for CDS, which will enable whole-genome analysis, integration with more providers, hospitals, and an increase in headcount, with an emphasis on software engineering, bioinformatics and genetics experts.