Manatt Venture Fund, led by Digital and Technology group leader Lisa Suennen, participated in a $23 million Series B financing for Genome Medical. This brings the company’s total amount of funds raised to $46 million.
The funding will allow Genome Medical to expand its team of clinical genomics specialists delivering services to healthcare systems, providers and patients, and accelerate development of its proprietary genomics care delivery platform. It previously raised $12 million in 2017 and $11 million in 2018.
Genome Medical is a leading nationwide telegenomics medical practice that helps patients and clinicians navigate the evolving world of genomic testing. Patients can use the platform to schedule virtual visits with genetic experts, and receive guidance on what type of genetic test to order. Providers can use it to arrange for an expert consultation.
Other investors in the raise included leading investment firms in healthcare IT and services innovation:
Echo Health Ventures, lead investor in the financing; LRVHealth; Casdin Capital; Perceptive Advisors; and Dreamers Fundall.
This is Manatt Venture Fund’s third healthcare investment in 2019. The fund previously invested in digital therapeutics company HealthBeacon and an undisclosed healthcare company.
The financing was covered in publications including: GenomeWeb, PitchBook, FierceBiotech, FinSMEs, MobiHealthNews and Pulse 2.0.