New Delhi, May 29 -- Hyderabad-headquartered genomics and personalized health platform Mapmygenome said on Thursday that it has acquired Microbiome Insights, a Canada-based microbial sequencing company.
The acquisition includes Microbiome Insights' College of American Pathologists (CAP)-accredited laboratory in Canada and intellectual property, which Mapmygenome said will bolster its scientific capabilities and support global expansion.
The financial terms of the deal were not disclosed.
Founded by Brett Finlay, William Mohn, and Malcolm Kendall, Microbiome Insights provides microbial research services and claims to have supported more than 600 global clients across over 1,000 microbiome studies. It claims to be a leading partner for academic, clinical, and industry researchers.
Post-acquisition, Microbiome Insights will continue to operate as a premier contract research organization (CRO), contributing to global microbiome research. It will also introduce integrated genomics and microbiome testing services in North America, aiming to make data-driven health solutions more accessible.
"The human microbiome is pivotal to health, and this acquisition positions us as a leader in this area. We gain exceptional expertise in metagenomics, transcriptomics, and targeted metabolomics to serve academic, biotech, and clinical sectors," said Anuradha Acharya, founder and CEO of Mapmygenome. "This accelerates our North American footprint, aligning with our strategic vision of growth through targeted acquisitions, leading up to our listing on the Indian market later this year," Acharya added.
Founded nearly a decade ago, Mapmygenome is a research-driven genomics company focused on preventive healthcare. It offers AI-powered genomic and microbiome testing to deliver personalized health solutions, including at-home DNA tests for proactive wellness and longevity. Its diagnostic genomic tests for healthcare providers are conducted in a CAP-accredited lab and are complemented by expert genetic counselling.
The company is primarily backed by angel investors and networks, including the Singapore Angel Network. For the financial year ended March 2024, Mapmygenome reported operating revenue of Rs 30.3 crore ($3.5 million), up from Rs 26.3 crore in the previous year, as per VCCEdge. However, net loss widened to Rs 9 crore in FY24 from Rs 5.8 crore in FY23.
Published by HT Digital Content Services with permission from VC Circle.