The transaction was supported by Manipal Education and Medical Group and state-owned CDC Group.
India-based biotech company iGenetic Diagnostics has raised $20m in funding from diversified conglomerate Manipal Education and Medical Group and CDC Group, the UK government-owned development finance institution, the Economic Times wrote yesterday.
The investment marks the first deal conducted by CDC and Manipal’s Rs5bn ($75m) healthcare-focused fund launched last week.
iGenetic Diagnostics is working on molecular diagnostics services for oncology, critical care, gynaecology and infertility. The company aims to make tests more affordable.
The cash will boost the company’s growth…
