Bangalore, 02 November 2022 – MedGenome is a leading provider of genomic solutions for populations in South Asia and provides advanced genetic testing and bioinformatics solutions to patients, pharmaceutical companies, and research institutions worldwide. The company has announced the appointment of Dr Amit Kakar, MD, from Novo Holdings, to its Board of Directors. This announcement comes on the heels of MedGenome’s $50 million funding round led by Novo Holdings in August 2022. They have appointed Navjeewan Khosla, Principal, Novo Holdings, as Board Observer.
Dr Amit Kakar is a Senior Partner, Head of Novo Holdings Asia, and a healthcare professional with over 30 years of experience across key verticals, including Medical Technology, R&D, Manufacturing, Pharma Retail, Drug Discovery, Clinical Research, Biotech, Hospitals and Diagnostic Centers, Primary and Specialty Care Centers, among others. His diverse experience also encompasses investing, operational and management roles across health-tech companies. He is currently part of the Board of Directors of Singapore-based life science company ESCO, telemedicine portal – Doctor Anywhere and leading health tech firm Qure.ai. As a Senior Partner, Dr Kakar’s expertise will help accelerate MedGenome’s expansion plans.
Novo Holdings, the holding and investment company of the Novo Nordisk Foundation, is a leading international life science investor focused on creating long-term value. It provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Headquartered in Copenhagen, Denmark, with offices in San Francisco, Boston, London and Singapore, Novo Holdings has a portfolio of more than 150 life science companies.
Dr Amit Kakar, Senior Partner, Head of Novo Holdings Asia, said, “MedGenome’s journey in the field of genomics has been awe-inspiring. The company’s mission to transform the future of personalised healthcare, making genetic testing affordable and accessible across the different strata of society and creating awareness among the clinician community, aligns with Novo’s investment strategy. I look forward to working closely with the team and fellow board members on this next exciting phase of MedGenome’s expansion journey.”
Naveen Khosla, the Principal of Novo Holdings, said, “We are very excited to partner with the MedGenome team. We believe in their vision to leverage genomics’s power for better managing inherited disorders. Personalised healthcare can now be made accessible and affordable to all. We are in perfect agreement with MedGenome’s expansion strategy, and I look forward to working together to achieve new heights of success for all of us.”
“In embarking on the next phase of our journey, we are delighted to have Dr Amit and Navjeewan on board. Their vast industry knowledge and experience will be of significant support to take MedGenome to newer heights as well as to foray into new geographical markets. Together we can scale up access and affordability to state-of-the-art genomic testing.” said Mahesh Pratapneni, Co-founder and Group CEO of MedGenome.
“MedGenome’s mission to expand the global genomic dataset to aid in developing more inclusive and equitable research & drug discovery is critical to the future of global healthcare. Dr Amit’s experience will help us advance our global expansion plans,” said Dr Felix Olale, Chairman of MedGenome’s Board of Directors and Global Co-Lead for Healthcare Investments at LeapFrog Investments.
Previously, Dr Amit served as Head of M&A and Business Development at Everlife Asia in Singapore, was Head of Healthcare Investments at Avenue Capital Group and served in several senior leadership roles at GE Healthcare. As a member of the board of directors, he joins Neeraj Bhargava of Zodius Capital, Tejeshwi Sharma of Sequoia Capital, Sam Santhosh, the founder, Felix Olale from LeapFrog, as well as Mahesh Pratapneni, the co-founder and chief executive officer of MedGenome.
In addition to expanding its product offerings, MedGenome intends to enhance the reach of its critical diagnostic services, including reproductive and oncology, as well as expand its bioinformatics and SaaS capabilities.
MedGenome, the market leader in South Asia, is a genomics-driven research and diagnostics company with a mission to improve global health by decoding the genetic information in an individual’s genome. Its unique access to genomic, clinical, and phenotypic data provides insights into complex diseases at the genetic and molecular level to transform the practice of personalised medicine and clinical drug discovery.