TELUS Ventures announced today that it has completed investments in three of Canada’s leading precision medicine and diagnostics-focused startups: Acorn Biolabs, GenXys Health Systems and Vital Biosciences.
These companies join TELUS Ventures’ more than 30 other active investment companies and build on the more than 70 transactions made since 2001.
“Customers across our healthcare provider, pharmacy, insurance, employer and executive health channels are increasingly united in their desire to adopt next generation precision medicine and diagnostic tools in order to improve the patient journey, reduce costs and deliver better patient outcomes,” said Rich Osborn, managing partner, TELUS Ventures.
“Our investments in these startups and their innovative management teams keep us close to budding new technologies and will allow us to be more responsive to our customers’ needs as these technologies become mainstream.”
Vancouver-based GenXys offers precision prescribing software and pharmacogenetics testing to personalize drug selection to increase treatment effectiveness. The precision medicine company was featured on Rocket Builder’s 2019 Digital Health Emerging Rocket list.
GenXys’ software integrates into the healthcare clinician’s workflow allowing for the seamless delivery of genome-optimized prescriptions preventing adverse drug reactions and ultimately helping to improve patient outcomes.
TELUS participated in GenXys’ $1.8 million seed financing alongside leading healthcare-focused angel investors and is partnering with GenXys in the Digital Technology Supercluster to improve the integration of precision prescribing into the clinician’s workflow.