Nalagenetics, a leading provider of genetic testing solutions in Southeast Asia, today announced the closing of a US$12.6 million Series A round of financing, 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, Nalagenetics develops end-to-end genetic testing solutions, enabling disease prevention. Through its genetics software and solutions, Nalagenetics empowers healthcare professionals to implement predictive and pre-symptomatic testing for prevention geared towards chronic conditions in Asia.
Nalagenetics’ initial capabilities were based on creating affordable genotyping kits and bioinformatics solutions for genetic data interpretation. Building on the company’s research and technical expertise, Nalagenetics now offers comprehensive end-to-end solutions that include building, implementing, and integrating genetic information in healthcare systems.
Nalagenetics’ 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 offers multiple modules for healthcare professionals, including a Pre-Test Module to understand which patients need genetic testing; Analysis Modules to process raw data from machines into readable files (CSV format); Reporting Modules to create reports with guideline-compliant recommendations; a Dashboard Module to summarize genetic testing results and inform providers and researchers; and a Post-Test Module to integrate genetic information into healthcare systems.
Beyond software, Nalagenetics’ end-to-end services include wet-lab protocols, bioinformatics algorithms, clinical recommendations, and API connections, to empower hospitals and labs to run effective genetic testing services. Driven by its use from hospitals and the growing awareness of patients, Asia is the world’s fastest growing market for genetic testing. However, there remains significant room for growth, as currently up to 80% of all genetic discoveries continue to be found in primarily Caucasian populations, and only a small percentage of people in the region sequenced.
Nalagenetics’ genetic testing tools and software are designed to be more accurate, actionable, and easy to use for local populations. Developing these capabilities using local and therefore ethnically diverse genetic data sets improve explanation for different medication effects, disease causes and progression in different populations.
With this round of financing, Nalagenetics plans to focus on product development for CDS to enable whole genome analysis and integration with more providers and hospitals, and increase headcount with an emphasis on bioinformatics, software engineering, and genetics experts.
“We are excited to continue advocating the development of cost-effective genetic screening for personalization of prescription and screening especially for cardiovascular, neurodegenerative, and cancers as the biggest killers in Southeast Asia. As the momentum for genetic testing and adoption of value-based care is increasing, we see a lot of interest from hospitals and providers that did not exist before,” said Levana Sani, co-founder and CEO, Nalagenetics.