MPM Capital Invests $3 Million, Takes Minority Stake in InformedDNA
Investment will fund growth strategies; specialty services
ST. PETERSBURG, Fla., July 8, 2013 /PRNewswire-USNewswire/ -- InformedDNA, the largest independent U.S. provider of genetic counseling and genetic benefits management services, announced today that MPM Capital, a life science-dedicated venture investment firm has acquired a minority stake in the company. The investment from MPM's SunStates Fund, LP will be used to expand InformedDNA's current genetic benefits utilization management offerings while also funding the development of new specialty genetic services for the pharmaceutical industry.
"InformedDNA's genetics expertise combined with MPM's strong track record in biotechnology, specialty pharmaceutical and medical technology investment made this the perfect match," said InformedDNA Chief Executive Officer David Nixon.
InformedDNA's flagship enterprise is its national network of board certified genetics specialists providing patients and their healthcare providers with accurate, personalized information about their health risks, whether genetic testing is right for them and the best options to protect their health. The privately held company includes board-certified genetics specialists in oncology, cardiology, neurology, reproductive health, ocular and other inherited conditions.
"InformedDNA has established itself as the authority in the appropriate use of genetic testing – one of the fastest growing areas of healthcare," said Bard Geesaman, MD, Ph.D., MPM Capital SunStates Fund's managing member. "InformedDNA's growth prospects reach into literally every area of healthcare at a time when the promise of personalized medicine is coming to life. This is our largest investment to date out of our Florida centric fund and is an excellent example of the opportunity to put growth capital to work in the state."
Genetic testing is becoming more prevalent and complex every day and InformedDNA's holistic approach to Genetic Benefits Optimization has positioned the company as an early leader in the emerging genetic benefits management industry. InformedDNA combines in-depth genetic technology assessment with real-world clinical expertise to identify best practices for the most efficient and effective use of genetic and genomic tests.
InformedDNA is the largest independent U.S. provider of genetic counseling services. In addition to direct patient care, the privately-held genetics specialist network provides consultative services to health plans, employers, medical centers, ancillary healthcare companies, government and other agencies seeking to better understand genomic health and its implications for their organizations and the healthcare system overall.
About MPM Capital
MPM Capital is a dedicated life sciences venture capital investor that has raised five healthcare venture funds over the past 15 years with committed capital in excess of $2.5 billion. Since 1997 and through December 31, 2011, these five venture funds have invested over $2.2 billion in 121 companies, ranging from early stage start-ups to late stage commercial companies.
SOURCE Informed Medical Decisions, Inc. (InformedDNA)