GenXys closes $3M tranched seed financing

CPE News (3/1/2021) – GenXys, a health tech company focused on pharmacogenetic enhanced prescribing automation software, has announced the closing of an oversubscribed seed round at $3 million.

Led by Green Shield Canada (GSC), with key investors including TELUS Ventures, Esplanade Ventures, Nimbus Synergies, and the Business Development Bank of Canada (BDC Capital).

GenXys raised $1.77 million in initial seed funding in 2018 and raised disclosed amount in May 2020 from Green Shield Canada (GSC).

Vancouver based GenXys Health Care Systems is a provider of comprehensive precision prescribing software with embedded pharmacogenetics to solve one of healthcare’s biggest challenges: inappropriate (“trial-and-error”) prescribing. Its clinical decision support software suite is in use by major insurance providers, health systems and pharmacies across North America.

photo credit: GenXys

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GenXys HealthCare Systems announces completion of oversubscribed seed round financing to enable continued market penetration with acclaimed precision prescribing software
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GenXys, a health tech company focused on pharmacogenetic enhanced prescribing automation software, is pleased to announce that it has closed an oversubscribed seed round at $3 million.

The inclusion of pharmacogenetics in prescribing decisions should be a standard of care; our solutions make this a reality. It is imperative to disrupt and transform the centuries old ‘trial and error’ approach to prescribing to provide precision medication options for everyone.

VANCOUVER, British Columbia (PRWEB) March 01, 2021

GenXys, a health tech company focused on pharmacogenetic enhanced prescribing automation software, is pleased to announce that it has closed an oversubscribed seed round at $3 million. Led by Green Shield Canada (GSC), with key investors including TELUS Ventures, Esplanade Ventures, Nimbus Synergies, and the Business Development Bank of Canada (BDC Capital).

GenXys provides evidence-based medication decision support tools with embedded pharmacogenetics to enable precision prescribing seamlessly at the point of care. Building on recent successes in the Canadian and US markets, the company plans to accelerate their expansion in the North American market meeting the needs of genetic lab companies, health systems and payers who seek to include pharmacogenetics in clinical decision making to improve prescription accuracy and reduce adverse drug events. The award-winning suite of clinical decision support software including TreatGx and ReviewGx is now interoperable with electronic health record systems and is pharmacogenetic test agnostic.

“With the support of our investment partners, we are positioned to accelerate our North American growth plans where digital health automation tools are being embraced enthusiastically by health systems, payers, and patients. The inclusion of pharmacogenetics in prescribing decisions should be a standard of care; our solutions make this a reality. It is imperative to disrupt and transform the centuries old ‘trial and error’ approach to prescribing to provide precision medication options for everyone.” says Karl Pringle, GenXys CEO.

Incorporating biophysical, drug, disease, kidney and liver data, as well as pharmacogenetic information, the software identifies optimal therapeutic options for the individual. Providers, payers, and pharmacogenetic lab companies use GenXys solutions to increase patient safety and improve population health while reducing costs. The recent increase in penalties and litigation are indicating an expectation that pharmacogenetics needs to be more widely incorporated in clinical decision making.

About GenXys
GenXys, with global headquarters in Vancouver Canada, provides the world’s most comprehensive precision prescribing solutions with embedded pharmacogenetics to solve one of healthcare’s biggest challenges; inappropriate (“trial-and-error”) prescribing. Their clinical decision support software suite is in use by major insurance providers, health systems and pharmacies across North America. Ongoing global clinical studies are paving the way into geographical markets to enable GenXys to realize its vision of powering every prescription with their software to increase patient safety, improve population health and reduce healthcare costs.

W: http://www.genxys.com
E: info@genxys.com