Life Sciences Insight

Genome Medical Touts New Acquisition and Financing

Genome Medical has hit a few milestones this week. The South San Francisco, CA-based company said it will acquire GeneMatters, a telehealth genetic counseling and software solutions firm, and has closed a $60 million series C financing round.  

Genome Medical said it will use the proceeds to expand its team and further enhance the development of its configurable technology solutions to provide innovative and efficient genomic medicine programs.

The Series C round was led by Casdin Capital and was joined by new investors GV (formerly Google Ventures) and Amgen Ventures. Existing investors also participated, including Perceptive Advisors, Canaan Partners, Kaiser Permanente Ventures, Illumina Ventures, LRVHealth, Echo Health Ventures, Revelation Partners, HealthInvest Equity Partners, Avestria Ventures, Flywheel Ventures, Dreamers Fund and Blue Ivy Ventures.

“The addition of GeneMatters, along with our Series C financing, propels us into the next phase of commercial growth and enables us to realize the genome-driven personalization of health,” said Lisa Alderson, co-founder and CEO of Genome Medical. “The genomic medicine industry is primed with testing capabilities and novel therapeutics; now is clearly the moment for Genome Medical to deliver expanded availability of genomic medicine for patients and providers.”