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If there is one company in India using the brute force of computing and high-speed sequencing to offer services in genetics, it is MedGenome. So important is the sequencing technology that owning a high-end machine becomes a news release. As it happened in October, after it bought Illumina’s Hiseq X Ten platform. If not in the consumer (or clinical) market, such high throughput sequencing will help them scale business in research services market.


MedGenome Labs Private Limited

Name as per MCA records

Girish Mehta





Emerge Ventures

Sequoia Capital


Strand Life Services

Mitra Biotech

MapMyGenome (In clinical services)

What has MedGenome been up to, the last year?

The company has made a decisive move this year to enter large-scale genomics projects, building on its earlier work in contract research. In February, as a founding member, it committed $10 million to the GenomeAsia 100K consortium which will sequence genomes of 100,000 people in South, North and East Asia.

It suitably girded up by raising $20 million in Series B from Sequoia. Clinical services have been sluggish (as the numbers show below), not just in India but even in the US. So the acquisition of California-based Lifecode Health, with its CLIA certified labs, this year makes a lot of sense. Its commercial tie-ups with diagnostics and medical centres indicate that it plans to double down on the clinical market, serving the end consumer.


50X: That’s how much the cost of materials grew, to Rs 24.38 crore.

2X: Is the jump in employee benefits expenses, to Rs 12.32 crore.

Rs 50 crore: The revenue they made from what they call “academics and research”; only 1 crore coming from India. So, contract research services contributed 84% of the total revenue.

Rs 47.51 crore: Is the forex earning, which amounts to 80% of the total revenue.

In partnership with Tofler

Rs 116.65 crore: Cash and cash equivalents that the company has.


Seema Singh

Seema has over two decades of experience in journalism. Before starting The Ken, Seema wrote “Myth Breaker: Kiran Mazumdar-Shaw and the Story of Indian Biotech”, published by HarperCollins in May 2016. Prior to that, she was a senior editor and bureau chief for Bangalore with Forbes India, and before that she wrote for Mint. Seema has written for numerous international publications like IEEE-Spectrum, New Scientist, Cell and Newsweek. Seema is a Knight Science Journalism Fellow from the Massachusetts Institute of Technology and a MacArthur Foundation Research Grantee.

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