Genome Medical Company Profile

Background

Overview

Genome Medical is a leading telehealth provider specializing in genetic services, aiming to make genetic care accessible and actionable for patients. Founded in 2016, the company partners with health systems, genetic testing laboratories, and life sciences organizations to expand the reach and impact of genomic medicine. Their services include genetic counseling, test ordering, and clinical trial matching, focusing on rare diseases and other specialties.

Mission and Vision

The mission of Genome Medical is to bridge critical gaps in access, ensuring that individuals and families affected by rare conditions receive the expert guidance they need. Through timely genetic counseling, streamlined test ordering, and clinical trial matching, they aim to accelerate diagnoses and connect patients with potential life-changing treatments.

Industry Significance

Genome Medical plays a pivotal role in integrating genomic medicine into everyday healthcare, addressing the growing demand for accessible genetic services. Their focus on rare diseases, which collectively impact over 300 million people worldwide, highlights their commitment to providing specialized care where it is most urgently needed.

Key Strategic Focus

Core Objectives

Genome Medical's strategic focus includes:

• Expanding Access to Genetic Services: Providing timely and efficient genetic counseling and testing through telehealth platforms.

• Accelerating Diagnoses: Utilizing genetic insights to expedite the diagnostic process, particularly for rare and complex conditions.

• Enhancing Clinical Trial Matching: Connecting patients with appropriate clinical trials to facilitate access to emerging therapies.

Areas of Specialization

The company specializes in:

• Rare Diseases: Offering specialized genetic services to address the unique challenges posed by rare conditions.

• Oncology: Providing genetic counseling and testing to inform cancer risk assessment and treatment decisions.

• Cardiology: Assessing genetic factors related to cardiovascular health.

• Pediatrics: Addressing genetic concerns in pediatric populations.

• Neurology: Offering insights into genetic neurological disorders.

Key Technologies Utilized

Genome Medical leverages telehealth platforms to deliver genetic services, ensuring accessibility and convenience for patients. They also utilize advanced data analytics to match patients with relevant clinical trials, enhancing treatment opportunities.

Primary Markets Targeted

The company's services are primarily targeted at:

• Patients: Individuals seeking genetic counseling and testing, particularly those affected by rare diseases.

• Healthcare Providers: Clinicians requiring genetic expertise to inform patient care decisions.

• Life Sciences Organizations: Companies involved in drug development and clinical trials seeking to integrate genetic insights.

Financials and Funding

Funding History

Genome Medical has raised a total of $75 million over seven funding rounds. The latest funding round was closed on September 23, 2024, amounting to $75 million.

Notable Investors

The company has attracted investment from leading health tech venture firms, including Canaan Partners, Illumina Ventures, HealthInvest Equity Partners, and Flywheel Ventures.

Utilization of Capital

The capital raised is intended to:

• Expand Genetic Services: Enhance the delivery of genetic counseling and testing through telehealth platforms.

• Advance Clinical Trial Matching: Develop and implement data analytics tools to connect patients with relevant clinical trials.

• Strengthen Technological Infrastructure: Invest in digital infrastructure to support the scalability and efficiency of genomic care delivery.

Pipeline Development

Genome Medical's pipeline development focuses on:

• Genetic Counseling Services: Expanding access to genetic counseling through telehealth platforms.

• Clinical Trial Matching: Enhancing data analytics capabilities to match patients with appropriate clinical trials.

• Technological Advancements: Developing AI-driven tools for patient education and care navigation, as well as clinician-facing solutions to streamline workflows and improve decision-making.

Technological Platform and Innovation

Proprietary Technologies

Genome Medical utilizes a secure telehealth platform to deliver genetic counseling and testing services, ensuring patient confidentiality and convenience.

Significant Scientific Methods

The company employs evidence-based approaches in genetic counseling and testing, integrating the latest scientific research to inform patient care.

AI-Driven Capabilities

Genome Medical is developing AI-driven tools to enhance patient education, care navigation, and clinical decision-making, aiming to improve the efficiency and effectiveness of genetic services.

Leadership Team

Jill Davies, MS CCGC

• Position: Chief Executive Officer

• Professional Background: Jill Davies has extensive experience in genetic counseling and healthcare leadership. Prior to joining Genome Medical, she served as CEO of GeneMatters, a company specializing in telegenetics, which was acquired by Genome Medical in 2021.

Mark Sylvester, JD

• Position: Chief Financial Officer

• Professional Background: Mark Sylvester brings a wealth of experience in financial management within the healthcare sector, overseeing financial operations and strategic planning at Genome Medical.

Kiley Johnson, MS, LCGC

• Position: Chief Clinical Officer

• Professional Background: Kiley Johnson is a board-certified genetic counselor with expertise in clinical genetics, leading the clinical team at Genome Medical to ensure high-quality patient care.

Andrew Warner

• Position: Vice President, Product

• Professional Background: Andrew Warner has a strong background in product development and management, focusing on enhancing Genome Medical's technological offerings.

Sara Riordan, MS, CGC

• Position: Vice President, Strategy

• Professional Background: Sara Riordan is a certified genetic counselor with experience in strategic planning and program development, contributing to Genome Medical's growth and strategic initiatives.

Leadership Changes

In September 2022, Genome Medical underwent a strategic realignment, leading to the departure of founder and CEO Lisa Alderson, who transitioned to a strategic advisory role. Jill Davies, previously CEO of GeneMatters, was appointed as the new CEO to lead the company's focus on rare diseases and expanded capabilities in clinical trial matching and AI.

Competitor Profile

Market Insights and Dynamics

The genetic services market is experiencing rapid growth, driven by advancements in genomic research, decreasing sequencing costs, and increasing awareness of the role of genetics in health and disease. The focus on rare diseases presents significant opportunities, as these conditions often lack effective treatments and benefit from early genetic diagnosis.

Competitor Analysis

Key competitors in the genetic services and telehealth space include:

• GeneDx: Specializes in genetic testing and counseling, focusing on rare and ultra-rare diseases.

• 23andMe: Offers direct-to-consumer genetic testing services, including health risk assessments and ancestry information.

• Nebula Genomics: Provides whole-genome sequencing services with a focus on privacy and data sharing.

• MGI: A subsidiary of BGI Group, MGI develops high-throughput genetic sequencing systems and laboratory automation products.

Strategic Collaborations and Partnerships

Genome Medical has established partnerships with organizations such as PatientsLikeMe, GeneDx, and Nestgenomics to broaden access to genetic counseling and testing services. These collaborations aim to integrate additional genetic solutions and co-develop targeted care pathways, enhancing patient outcomes and expanding service offerings.

Operational Insights

Genome Medical's telehealth model offers a competitive advantage by providing accessible and timely genetic services, reducing wait times for genetic counseling from as much as 18 months to less than one week. This efficiency is particularly beneficial for patients with rare and complex conditions.