Green Shield Canada has invested in GenXys, a Vancouver, British Columbia-based developer of precision prescribing software and pharmacogenetics testing. No financial terms were disclosed. GenXys’ investors include Telus Ventures.
TORONTO, May 26, 2020 (GLOBE NEWSWIRE) — With the concept of personalized medicine gathering momentum across the health care environment, Green Shield Canada (GSC) is pleased to announce an investment in GenXys, a Canadian pharmacogenomics leader, to leverage the value of tailoring drug treatment to a person’s total health profile including their genetic makeup.
The two companies will be collaborating on new pharmacogenomics products – set to launch later this year – with a focus on driving more informed prescribing, fewer adverse drug reactions and better health outcomes for patients.
“GenXys stood out as a forward-thinking partner that shared our commitment to solving complex health challenges,” explains David Willows, GSC’s EVP, Digital, Innovation and Brand Experience. “GSC has a long history of measuring the value of health benefits spending, and we look forward to exploring the role of pharmacogenomics in maximizing patient health outcomes and advancing the specific value of drug spend.”
“We are excited to be working with the GSC team as we shape the next stages of the pharmacogenomics story,” says Karl Pringle, GenXys CEO. “Our partnership opens the door to a wide range of new possibilities.”
This investment comes on the heels of a groundbreaking study conducted by GSC and HBM+ (its health benefit management solutions division) on the impact of pharmacogenomics on more than 200 outpatients who had been diagnosed with major mental health conditions, including depression and anxiety.
The full study results will be shared later this summer, but one key finding stands out – those patients receiving pharmacogenomics-guided treatment reported significantly greater improvements over a six-month period across a range of clinical outcome measures, including severity of depression and anxiety as well as level of disability.
“We had always felt that the key unanswered question was whether clinician access to pharmacogenetic test results would improve patient outcomes,” adds Willows. “This study clearly showed that it can, strengthening our belief in the impact of pharmacogenomics-guided treatments.”
About Green Shield Canada (GSC)
GSC is Canada’s fourth-largest health and dental benefits provider, and is uniquely structured as a social enterprise with the purpose of making it easier for people to live their healthiest lives. From coast-to-coast, our service delivery includes drug, dental, extended health care, vision, hospital, and travel benefits for groups and individuals, as well as administration and benefits management services. Supported by outcomes-based sustainability strategies, advanced technology, and exceptional customer service, GSC creates innovative programs for nearly four million plan participants nationwide. greenshield.ca