InformedDNA Company Profile
Background
Overview
InformedDNA, established in 2007, is a leading applied genomics solutions provider headquartered in St. Petersburg, Florida. The company specializes in integrating genetic insights into healthcare decision-making to enhance patient care and outcomes. With over 15 years in the genomics industry, InformedDNA has developed a comprehensive suite of services, including genetic counseling, genetic testing utilization management, payment integrity, and clinical trial support.
Mission and Vision
InformedDNA's mission is to revolutionize the application and implementation of genomic insights to improve patient care and outcomes for all. The company envisions a future where healthcare is truly personalized, moving beyond the one-size-fits-all approach to research, patient management, and treatment.
Industry Significance
As a pioneer in telehealth genetic counseling, InformedDNA has played a pivotal role in advancing personalized healthcare. The company's expertise and innovative solutions have significantly contributed to the integration of genomics into mainstream medical practice, influencing policy development and clinical guidelines.
Key Strategic Focus
Core Objectives
InformedDNA aims to optimize clinical decisions, improve patient outcomes, and achieve cost savings at scale by leveraging genomic insights. The company focuses on providing tech-driven solutions that assist payors in shaping policy, support providers in making informed care decisions, and offer patients accessible genetic counseling services.
Areas of Specialization
The company's specialties include:
- Genetic Testing Utilization Management: Ensuring appropriate use of genetic tests to prevent unnecessary spending and improve patient care.
- Genetic Counseling: Offering nationwide telehealth access to board-certified genetic counselors for comprehensive patient support.
- Payment Integrity: Improving payment accuracy through custom prepay or post-pay solutions tailored to individual plan needs.
- Clinical Trial Recruitment: Recruiting and retaining eligible participants to meet clinical trial goals, enhancing drug development and site performance.
Key Technologies Utilized
InformedDNA employs advanced technology platforms to deliver its services, including AI-enabled patient education tools, decision support automation for prior authorization, and telehealth platforms for genetic counseling. These technologies facilitate efficient and scalable solutions across various healthcare settings.
Primary Markets Targeted
The company serves a diverse clientele, including:
- Payors: Health plans and insurers seeking to manage genetic testing costs and improve policy decisions.
- Life Sciences: Pharmaceutical and biotechnology companies requiring support in clinical trial recruitment and genetic data interpretation.
- Health Systems: Hospitals and healthcare providers needing genetic counseling services and utilization management.
Financials and Funding
Funding History
InformedDNA has secured a total of $28.72 million in funding over multiple rounds. The most recent funding round was a Series B, with a $10 million growth capital financing provided by CIBC Innovation Banking in February 2020.
Notable Investors
CIBC Innovation Banking has been a significant investor, leading the most recent funding round. Other investors include NovaQuest Capital Management, L.L.C., TripleTree Capital Partners, and Frist Cressy Ventures.
Utilization of Capital
The capital raised has been utilized to expand InformedDNA's service offerings, enhance technological capabilities, and support strategic acquisitions to strengthen its market position.
Pipeline Development
Key Pipeline Candidates
InformedDNA's pipeline includes:
- DNAimpact™ Precision Health Program: An innovative, scalable platform designed to guide members through understanding their genetic health risks and personalized management options.
- Genetic Testing Utilization Management: A program focusing on intelligent prior authorization and decision support automation to prevent unnecessary spending on genetic testing.
- Payment Integrity Solutions: Custom prepay or post-pay solutions implemented to meet individual plan needs and ensure healthcare dollars are spent appropriately.
Stages of Development
These programs are in various stages of implementation, with DNAimpact™ being actively deployed to guide members through genetic health risk assessments and management. The utilization management and payment integrity solutions are integrated into client operations to optimize genetic testing processes and payment accuracy.
Target Conditions
The programs address a wide range of genetic conditions, including hereditary cancers, cardiovascular diseases, and rare genetic disorders, aiming to improve early detection, personalized treatment plans, and overall patient outcomes.
Anticipated Milestones
InformedDNA continues to refine its programs, with ongoing evaluations to enhance effectiveness and expand reach. The company is also exploring partnerships to broaden the impact of its solutions in the healthcare industry.
Technological Platform and Innovation
Proprietary Technologies
InformedDNA has developed proprietary technologies such as DNAimpact™, a precision health platform that offers personalized genetic health risk assessments and management options. This platform integrates advanced analytics to provide actionable insights for patients and healthcare providers.
Significant Scientific Methods
The company employs evidence-based clinical guidelines and decision support tools to ensure the appropriate use of genetic testing. Additionally, InformedDNA utilizes telehealth platforms to deliver genetic counseling services, enhancing accessibility and convenience for patients.
Leadership Team
Key Executives
