Navigenics, a Foster City, Calif.-based personalized genomics company, has raised around $18 million in new VC funding. Procter & Gamble was joined by return backers Kleiner Perkins Caufield & Byers and MDV. The company previously raised around $25 million.
Navigenics, a leading personal genomics company, announced today that the company has raised approximately $18 million of funding. The Procter and Gamble Company, with a worldwide portfolio of leading consumer brands, has joined existing Navigenics investors Kleiner Perkins Caufield and Byers and Mohr Davidow Ventures who also participated in this financing round.
“I welcome the partnership of Procter and Gamble. Their extraordinary track record of consumer understanding provides Navigenics with an unparalleled opportunity to understand and serve the needs of our customers,” said Vance Vanier, MD, Navigenics President and CEO. “When combined with their commitment to developing innovative consumer health and wellness products and an expanding focus on health services, P&G’s insight and brand will strengthen Navigenics’ position to embed personal genomics into the prevention dialogue of everyday health care.”
“Navigenics represents an exciting opportunity for future innovation for P&G,” said Nathan Estruth, Vice President of Procter & Gamble FutureWorks and Board member of MDVIP, a national network of primary care physicians focused on personalized, preventive care. MDVIP has initiated a collaborative effort with Navigenics, making their genetic test available as a service to MDVIP-affiliated physicians. “Based on their strong science and clinical foundation, Navigenics promises to change the shape of health care as we know it. Personalized genetic testing can have significant meaning in helping consumers focused on prevention and wellness live better, healthier lives – something that P&G has always been committed to.”
“This Series C financing will help ensure that Navigenics has the ability to continue our groundbreaking research into the impact of genomics on preventive health care, expand our clinical offerings into exciting new areas and lead the way in making personal genomics an integral part of employer-sponsored preventive health and wellness programs,” said Dr. Vanier.
Navigenics, Inc. is a privately held company based in Foster City, Calif. The company was founded by David Agus, M.D. and Dietrich Stephan, Ph.D., with the goal of improving health outcomes in individuals across the population. Navigenics educates and empowers individuals and their physicians with knowledge of their genetic predispositions, and then motivates them to act on the information to prevent the onset of disease, achieve earlier diagnosis, appropriately manage disease, or otherwise lessen its impact. Navigenics’ lead investors are Kleiner Perkins Caufield and Byers and Mohr Davidow Ventures. More information can be found at www.navigenics.com.