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Founded Year

2019

Stage

Incubator/Accelerator - III | Alive

Total Raised

$44.65M

About 54gene

54gene develops an online genetics platform. It offers drug discovery and clinical trial programs. The company was formerly known as Stack Diagnostics. It was founded in 2019 and is based in Lagos, Nigeria.

Headquarters Location

3 Simeon Akinlonu Cres Maroko

Lagos, 106104,

Nigeria

+971 58 594 9926

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Research containing 54gene

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned 54gene in 3 CB Insights research briefs, most recently on Dec 16, 2022.

Expert Collections containing 54gene

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

54gene is included in 3 Expert Collections, including Digital Health.

D

Digital Health

10,563 items

The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.

D

Digital Health 150

150 items

The winners of the third annual CB Insights Digital Health 150.

D

Drug Discovery Tech Market Map

221 items

This CB Insights Tech Market Map highlights 220 drug discovery companies that are addressing 12 distinct technology priorities that pharmaceutical companies face.

Latest 54gene News

54gene Founder Returns With New Genomics Company Syndicate Bio

Sep 21, 2023

Dr. Abasi Ene-Obong, the founder of 54gene, has started a new company, Syndicate Bio. The rise and fall of 54gene In 2019, Obong founded 54gene, a Nigerian health and biotech startup, to address the gap in the genomics market. At the height of the pandemic, the organization seized the opportunity to earn more money by transforming its lab into a COVID testing center. But, as Covid cases reduced and fewer people carried out tests, many of the staff 54gene recruited had to be let go. The organization was forced to adjust staff numbers to remain competitive during that time. The year before he stepped down in 2022, the company saw its valuation drop by over $100 million and eventually laid off 30% of its workforce . Obong stepped down from the role of Chief Executive Officer in October 2022. He confirmed he would continue his duties as a co-founder while transitioning into a new role as a senior advisor. It needed to be clarified exactly why Obong decided to step down from his role, but extreme changes were taking place within the organization. However, Obong has now announced the launch of his new business, Syndicate Bio. Syndicate Bio Syndicate Bio is a platform biotech driving genomics and precision medicine initiatives across the world’s most diverse regions, starting in Africa to bridge the gap in global healthcare. “It is my belief that genomics will not only accelerate scientific discovery but also democratize discovery as we begin to carry out population genetics work in diverse populations,” said Obong. He announced on LinkedIn that they use large-scale partnerships with governments, pharma companies, academia and other stakeholders to drive local precision medicine impact. They do this while creating powerful datasets that can be used for drug discovery and development. Commending the team behind him, including Jumi P. and Estelle Dogbo, MSc, as co-founders, he wrote, “These are people who I have a great amount of respect for and who have demonstrated a commitment to genomics in Africa and continue to do so.”

54gene Frequently Asked Questions (FAQ)

  • When was 54gene founded?

    54gene was founded in 2019.

  • Where is 54gene's headquarters?

    54gene's headquarters is located at 3 Simeon Akinlonu Cres, Lagos.

  • What is 54gene's latest funding round?

    54gene's latest funding round is Incubator/Accelerator - III.

  • How much did 54gene raise?

    54gene raised a total of $44.65M.

  • Who are the investors of 54gene?

    Investors of 54gene include African Unicorns, KdT Ventures, Ingressive Capital, Adjuvant Capital, BossaNova Investimentos and 17 more.

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