InformedDNA, the Largest U.S. Genetic Testing Provider, Secures Growth Investment to Expand Clinical Genomics Services

On December 23, 2019, VCBeat (WeChat ID: vcbeat) learned that InformedDNA, China’s largest genetic testing provider, announced it had reached an agreement on growth capital investment with TT Capital Partners, NovaQuest Capital Management, and Frist Cressey Ventures. InformedDNA will use the investment funds to continue expanding its technology-enabled genetic counselor services and to grow its team of consultants.

InformedDNA is a leading authority in genetic testing. The company leverages the expertise of full-time employees independent of laboratories and board-certified genetics specialists to help ensure that health plans, hospitals, employers, community clinicians, and patients receive the highest quality genetic testing services. InformedDNA’s core business includes clinical genetic testing counseling, management consulting related to genetic testing, and support for relevant clinical trials.

As the genetic testing market continues to expand, hundreds of new genetic tests are launched every month. However, many genetic testing service providers lack the expertise to appropriately select and interpret these tests, leading to unnecessary costs for patients. InformedDNA employs more than 85 genetic counselors whose services guide clinical decision-making for genetic testing providers and help them establish clinical trial protocols.

David Nixon, CEO of InformedDNA, stated, “We are delighted to collaborate with these partners, enabling us to deliver enhanced services for increasingly complex genetic testing. Currently, nearly one-third of tests are inappropriately ordered, adversely affecting both patients and genetic testing service providers. This investment will allow InformedDNA to expand its technology and services related to genetic testing, thereby helping patients make better-informed decisions.”

Conor Green, a partner at TT Capital Partners, stated, “Healthcare is at a critical inflection point, with emerging genetic testing capabilities poised to deliver more personalized care, improved outcomes, and lower costs. InformedDNA’s expertise in genetics can help many healthcare organizations better leverage specialized genomic knowledge. We are excited to partner with this industry leader to continue providing exceptional expertise to the healthcare sector.”

This is an independent commercial bank specializing in corporate mergers and acquisitions, financial restructuring, and principal investment services. TT Capital Partners is part of TripleTree’s healthcare-focused commercial banking division. The firm collaborates with healthcare technology and services companies that have the potential to become market leaders. Leveraging unique insights, TT Capital Partners has invested in some of the most innovative and high-growth healthcare businesses.

The company is a leading investor in the life sciences and healthcare sectors. Founded in 2000, NovaQuest Capital Management was established with the vision of creating a strategic capital investment platform for life sciences and healthcare companies. Today, NovaQuest Capital Management manages over $2.5 billion in assets through its product financing and private equity strategies. The firm’s investment team comprises seasoned professionals with extensive operational and investment experience, as well as deep expertise in life sciences and healthcare.

This is an early-stage investment firm dedicated to accelerating the growth of high-potential healthcare enterprises through value-added partnerships. The company invests in the development of healthcare businesses by providing actionable solutions to shape the future of healthcare.

(Compiled by Wang Jingna)