Gene Solutions secures $15 million from Mekong Capital

October 05, 2021 | 16:32
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Mekong Capital has announced that Mekong Enterprise Fund IV (MEF IV) invested $15 million into Gene Solutions to make genetic testing affordable and accessible to millions of Vietnamese.
Gene Solutions secures $15 million from Mekong Capital
Gene Solutions has become the sixth investee of Mekong Capital Enterprise Fund IV

Gene Solutions is a pioneer genetic testing company in Vietnam and the market leader for reproductive health tests, which respond to critical healthcare needs such as helping parents detect chromosomal disorders during pregnancy or preventing genetic problems, and helping to conceive a child (in vitro fertilization - IVF). The company also offers lifestyle tests directly designed for consumers such as hereditary tests and has entered the oncology segment with genetic tests for targeted therapy.

Since its founding in 2017, Gene Solutions has made remarkable achievements in reducing the cost of genetic testing through running its cutting-edge laboratories in Ho Chi Minh City, together with the establishment of a robust in-house research and development team. This made it possible for them to offer tests at prices more accessible to the Vietnamese mass market and quickly achieved its market leader position.

To date, the company has conducted over 250,000 genetic tests since its inception, covering every province in the country, with a national network of 2,000 hospitals and clinics, and over 2,500 registered doctors.

With a solid base in research and development (R&D) and distribution channels, the investment of MEF IV will accelerate the company’s growth with new technologies in gene testing segments and cement its position in the market to achieve its vision: make genetic testing affordable and accessible to millions of Vietnamese, thus transforming their health.

Chris Freund, partner at Mekong Capital, shared that, "The three co-founders of Gene Solutions, Dr. Nguyen Hoai Nghia, Dr. Nguyen Huu Nguyen, and Dr. Giang Hoa have created a huge breakthrough vision for the future of healthcare in Vietnam. Their vision will make genetic testing reliable, affordable, and convenient for millions of Vietnamese, contributing to early disease detection and extending many people’s lives in Vietnam. They will develop powerful new genetic testing breakthroughs from Vietnam, empowering Vietnam to emerge as an important source of cutting-edge biotech R&D in the world."

By Mekong Capital

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