Prenetics raises $10M to popularize patient DNA testing in Asia

Prenetics, a Hong Kong-based medical technology company, has raised a $10 million Series A round for its DNA testing technology that helps doctors provide more accurate diagnoses and better understand their patients.

The company claims that 190,000 people die every year in China alone from adverse reactions to medication prescribed to them. Yet those fatalities could be avoided with a dose of technology. Armed with genetic testing capabilities, Prenetics says it can help medical professions prescribe medicine more accurately, with more effective results and lowered risks of side effects.

Prenetics’ iGenes product uses “a non-invasive buccal swab test” — that’s a DNA collection from the inside a patient’s mouth/cheek — which generates results for physicians with 48 hours straight to its mobile app. That information, the company claims, can help spot potential side effects from medicine and allow for “more precise” prescriptions — potentially saving lives and pain for patients.

“Companies like Uber, Spotify and Airbnb have changed our family lives today,” Prenetics CEO Danny Yeung told TechCrunch in an interview. “But technology still hasn’t impacted medicine.

“Many people will go to see a doctor but won’t be aware which drugs are best for them. It’s a big problem, 4.7 million people suffer from misdiagnosis just in the U.S. and China each year.”