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Genomed opens genetic testing clinic in Warsaw


2010-09-08

Genomed, a start-up provider of DNA sequencing analysis services for molecular medical diagnostics, has opened private genetic testing clinic in Warsaw.
The clinic offers prenatal genetic testing for couples, for individuals with a family history of genetic disorders, and for all persons wishing to test their genetic risks for a wide range of diseases.
The company is betting on rising popularity and affordability of genetic testing services in Poland, as their prices fall steadily. In a few months’ time it plans to introduce new-generation genome sequencing technologies, which will make testing more precise.
Genomed serves pharma and biotech firms, hospitals and clinics, R&D institutions, as well as the consumer market. Last year it generated revenues of PLN 1.7m (€0.43m). In 2010 the company expects sales to more than double to exceed PLN 3.5m (€.0.89m), and to earn a net profit of PLN 0.5m (€0.13m). In the fourth quarter it plans to list its shares on NewConnect.
40% shares of Genomed is owned by MCI BioVentures, a seed/start-up fund focused on the biotech, pharmaceutical and healthcare sectors.

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