Africa’s top DNA research startup has secured $25 million for drug discovery and pharma talent

Difficulties in getting Covid-19 vaccines from the US and Europe to Africa mean that it’s more important than ever for the continent to be capable of breakthrough research in biotechnology and medicine. While that reality may still be years away, new investment into one of the continent’s most ambitious health-tech companies could help lay necessary foundations.

54gene, the genomics research startup, says it has raised $25 million in a Series B round led by venture capitalists Cathay AfricInvest Innovation Fund. Some existing investors like Adjuvant Capital, KdT Ventures, and Ingressive Capital put in new money too.

Abasi Ene-Obong, 54gene’s CEO, says the new capital will advance plans for “an African global drug discovery company that leverages the deep insights found in genomics research in diverse populations and ensures true equity for the African population.”

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