Debevoise & Plimpton LLP has advised Leapfrog Investments (“LeapFrog”) in its investment in MedGenome, a leading genetic diagnostic testing and genomics research company with operations in the US, India, Canada and Singapore.
Existing investors Sofina and Sequoia also participated in the funding round.
MedGenome has already built the largest database of South Asian genetic variants through its leadership in genetic diagnostics in India, research partnerships and work as a co-founding member with GenomeAsia 100K. MedGenome has completed over 200,000 genomic tests to date and obtains samples from more than 550 hospitals and 6,000 clinicians across India.
This investment will expand the clinical genomic testing market by expanding access in Tier-II and Tier-III towns and cities across India and accelerate the company’s drug discovery programs.
LeapFrog invests in exceptional businesses in Africa and Asia, partnering with their leaders to achieve leaps of growth, profitability and impact. Founded in 2007, LeapFrog’s companies now reach 188 million people across 35 countries with healthcare or financial services.
Debevoise previously advised LeapFrog in the formation of LeapFrog Financial Inclusion Fund III, a $700 million emerging markets-focused impact fund.
The Debevoise team advising LeapFrog on the investment was led by partner Geoffrey Burgess, and included associates Clarissa McNerney and Shira Huberfeld.