MPM Capital bought a minority stake in InformedDNA, the United States' largest provider of genetic counseling services. This investment was taken from MPM Capital's Sun States Fund.
The investment will be utilized by InformedDNA through its expansion of its current genetic benefits management services and the development and research of new specialty genetic processes to be sold the businesses in the pharmaceutical industry.
David Nixon, Chief Executive Officer of InformedDNA, commented on the stake acquisition, "InformedDNA's genetics expertise combined with MPM's strong track record in biotechnology, specialty pharmaceutical and medical technology investment made this the perfect match."
The company's flagship initiative is its expansive network of genetics specialists, all of which are certified by the government regulatory board, that are located across the entire United States. They have been providing patients and healthcare officers with "accurate, personalized information about their health risks".
Bard Geesaman, MD, PhD., managing member of Sun States Fund said, "InformedDNA has established itself as the authority in the appropriate use of genetic testing - one of the fastest growing areas of healthcare."
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