By Bio-IT World Staff
February 3, 2010 | Navigenics has raised approximately $18 million of funding thanks to the addition of Procter and Gamble to its existing portfolio of investors.
“I welcome the partnership of Procter and Gamble," said Vance Vanier, Navigenics President and CEO, in a press release today. "Their extraordinary track record of consumer understanding provides Navigenics with an unparalleled opportunity to understand and serve the needs of our customers. 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 Vanier.
Kleiner Perkins Caufield and Byers and Mohr Davidow Ventures who also participated in this financing round.