Nigerian healthtech 54Gene secures $25mn to fund expansion

54Gene, a health technology company based in Nigeria, has recently secured $25 million in private capital funding, bringing its total investment in the firm to $45 million since 2019. Delali Atipo, the Chief Operating Officer of 54Gene, joined CNBC Africa to discuss the significance of this funding and the company's outlook for the future. 54Gene focuses on advancing African genomics research, leveraging the power of genomics to develop the next generation of drugs and diagnostics. Atipo emphasized the importance of including Africans in research efforts, highlighting the rich genetic diversity present on the continent. By incorporating African populations in their studies, 54Gene aims to drive discoveries that not only benefit Africans but also have global implications. The company has seen early success in building out its bio bank, which houses samples and phenotypic information from participants. With the additional capital raised, 54Gene has been able to enhance its bio banking capacity significantly. Atipo credited the company's talented team of molecular scientists and data experts for driving these advancements, underscoring the crucial role that talent plays in the company's progress. With the latest funding round, 54Gene plans to expand its capabilities for sequencing, target identification, validation, and conducting precision clinical trials on the continent. This expansion will enable more Africans to access accurate diagnostics and personalized treatment options, ultimately improving healthcare outcomes. In terms of investors, 54Gene has garnered support from various backers, including Kathy Afriken Best Innovation Fund and Adjvant Capital KET. These investors recognize the company's vision and are aligned with its mission to transform healthcare in Africa and globally. By forging partnerships with public sector institutions and research organizations, 54Gene collaborates with entities like the Nigerian CDC and genomic scientists to further its research initiatives and enhance diagnostic capabilities. Atipo highlighted the importance of public-private partnerships in driving innovation and ensuring widespread access to cutting-edge technologies. By working closely with institutions and industry partners, such as Illumina, 54Gene aims to democratize access to research and technology across the continent. Through its commitment to leveraging genomics for the betterment of healthcare in Africa, 54Gene is poised to make a significant impact in the field of precision medicine and drug discovery. The company's recent funding success signals a vote of confidence in its innovative approach and underscores the growing interest in advancing healthcare technology on the African continent.