DNA Direct News: Series B Funding to Expand Medical Services
Posted Nov 19 2009 10:02pm
Yes, that’s the sound of champagne corks flying at DNA Direct. We’re happy to announce our next round of funding. Our newest investor, Lemhi Ventures, is focused on growing businesses that target disruptive changes in health care, to improve quality and value for consumers.
How does DNA Direct provide solutions to disruptive change? Personalized medicine, coming to you online, over the phone, at home, in your doctor’s office, and through your labs. We’re focused on making the connections between patients, physicians and institutions — closing the loop, so to speak, or addressing the gap — so that the potential of medical genetics to affect people’s healthcare and change people’s lives is realized.
Here’s the official press release:
DNA Direct Attracts Series B Investment to Expand Its Medical Genetics Capabilities
Genetic testing services provider launching new point-of-care solutions for physician practices
SAN FRANCISCO, Feb. 27, 2008 – DNA Direct, a web-based provider of genetic testing services, announced today that it has closed $7 million in Series B financing, led by new investor, Lemhi Ventures, and including private investors from the firm’s Series A funding round.
“Lemhi Ventures and DNA Direct are a perfect fit,” said Ryan Phelan, founder and CEO of DNA Direct. “Lemhi understands that personalized medicine will be revolutionary for healthcare. Their team has the expertise to help us expand our service beyond consumers to providers, labs and health plans.”
Point-of-Care Genetic Expertise The new financing will be used to further integrate DNA Direct’s services into the medical system by creating turnkey genetic testing solutions for physician practices and other healthcare providers. The beta version of Prenatal Primer, DNA Direct’s first point-of-care product, is launching at select OB/GYN practices this week.
Prenatal Primer is an interactive, web-based guide to prenatal testing options distributed to physician practices by Lenetix Medical Laboratories, a provider of prenatal diagnostics and genetic risk assessment technologies. Based on a referral from their physicians, pregnant patients will access the tool for education and decision support on prenatal testing.
“It’s exciting to see the company build on the genetic expertise it has cultivated through years of providing direct-to-consumer genetic testing services,” said Allan Bombard, M.D., Medical Director for DNA Direct. “By working with partners like Lenetix, we are leveraging our expertise to make genetic information more accessible for physicians and their patients.”
Lemhi Ventures partner joins the DNA Direct board As part of the investment, Jodi Hubler, Managing Director for Lemhi Ventures, has joined the DNA Direct board of directors.
“Consumer access to health information is a fundamental driver of change,” said Hubler. “Genetic information is an increasingly important key to developing better, more carefully focused therapies. DNA Direct is a pioneer in building tools that increase understanding of genetics. We believe that will empower consumers to take greater control of their health care.”
About DNA Direct DNA Direct is a privately-held company offering web-enabled tools and services that expand access to genetic expertise. DNA Direct’s mission is to deliver the power of personalized medicine to patients and providers - reducing health risks, preventing disease, and better targeting therapies. www.dnadirect.com.