Friday, 19 July 2019

East Ventures leads $1M funding for Nalagenetics

02 November 2018 | News

The fresh capital will be used to complete proof-of-value projects in partnership with leading hospitals and providers in Singapore and Indonesia.

Genetic testing company Nalagenetics has announced the closing of a $1 million pre-seed funding round led by early-stage investor East Ventures. Other investors in the round include Indonesia’s Intudo Ventures and a number of strategic angel investors.

Singapore-based Nalagenetics is a biotech company dedicated to reducing adverse drug reactions and increase prescription efficacy through genetic testing for local Asian populations in Singapore, Indonesia and beyond.

According to the company, the fresh capital will be used to complete proof-of-value projects in partnership with leading hospitals and providers in Singapore and Indonesia and to recruit new talent for the team. Founded by scientists Dr Jianjun Liu, Dr Astrid Irwanto, Dr Alexander Lezhava, and Levana Sani, Nalagenetics aims to develop genetic tests that are easier to understand, more affordable and localized for Asian physicians and patients by studying how certain DNA characteristics affect drug responses.

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