Health
54Gene Obtains $25m for Precision Medicine Clinical Trials
By Adedapo Adesanya
Nigerian health technology company, 54Gene, has announced the closing of a $25 million Series B funding round led by Africa-focused venture capital company, Cathay AfricInvest Innovation Fund.
Other investors that participated in the round included Adjuvant Capital, Ingressive Capital and KdT Ventures, as well as Plexo Capital, Endeavor Capital and others.
This is coming after the company raised $15 million in series A funding in April 2020 right after raising $4.5 million seed funding in July 2019.
With the latest funding, the startup’s total investment has reached more than $45 million in just over 2 years of existence.
Founded in January 2019 by Abasi Ene-Obong (CEO), Damilola Oni, Gatumi Aliyu and Ogochukwu Francis Osifo, 54Gene offers testing and molecular diagnostics services to Africans.
The startup predicted to impact the world of public health and medical science in the 2020s by TIME, currently works with over 300 researchers, clinicians and geneticists across Africa to build and maintain an African biobank.
This biobank contains African genetic data sets to make landmark discoveries in support of therapeutic development by researchers.
In December 2020, the company announced the completion of a state-of-the-art lab capable of carrying out human whole-genome sequencing in Nigeria. This new lab, a first of its kind in Africa, enables the sequencing, genotyping and analysis of African samples stored in its biobank without transporting them overseas. This will reduce the costs and turnaround time for test results.
Now, the startup seems to be putting more focus on new drug discovery. Aside from expanding its capabilities in sequencing, target identification and validation, the startup noted that the new capital raised will also be deployed for precision medicine clinical trials, enabling drug discovery in Africa for both Africans and the global population.
Speaking on the latest funding package, the CEO, Mr Abasi Ene-Obong said, “It’s truly incredible to witness the impact of African scientists in global research and it is critical to global health that this continues.
“We want to scale our contribution to global drug discovery by extensively developing life science capabilities on the continent and this additional capital will catalyse our endeavours.”
The new capital will also enable the company to begin its expansion across the African continent and to achieve this, 54Gene has made several strategic senior appointments and brought in new team members with much-needed experience.
Peter Fekkes who developed and led drug discovery programs at Novartis, FogPharma and H3 Biosciences joins the team as Vice President, Drug Discovery.
Colm O’Dushlaine formerly of Regeneron Genetic Center and the Broad Institute of Harvard and MIT joins as Vice President – Genomics and Data Science.
Jude Uzonwanne who was formerly a partner at IQVIA, ZS Associates and held multiple roles at the Monitor Group, Bain and Company, and the Bill and Melinda Gates Foundation joins the team as Chief Business Officer.
Speaking on the new senior appointments, Mr Ene-Obong said the partners were brought in to keep the company true to its mission of equalizing healthcare explaining that the partners can help the company replicate its success throughout Africa.
“We believe the world will benefit from an African global drug discovery company that leverages the deep insights found in genomics research in diverse populations and ensures true equity for the African population.
“It is exciting to see our company shift into the next gear as it targets becoming one of the top global companies in genomics research,” he said.
By Modupe Gbadeyanka
The chairman of Rite Foods Limited, Mr Sulaiman Adebola Adegunwa, has been commended for donating an ultra-modern Trauma Centre to the Olabisi Onabanjo University Teaching Hospital (OOUTH) in Sagamu, Ogun State.
The facility, donated to mark his 80th birthday, is a one-stop trauma centre with all the medical equipment and healthcare personnel to handle about 2,000 trauma cases in a month, from the severe to the minor ones.
Speaking at the commissioning of the 50-bedded facility, named Sulaiman Adebola Adegunwa Trauma Centre, by the Vice President of Nigeria, Mr Kashim Shettima, on Saturday, April 5, 2025, it was stated that the centre would enhance healthcare delivery for accident victims and other trauma-related cases within Ogun and neighbouring states.
Mr Shettima noted that the provision of the healthcare facility was timely, as it aligns with President Bola Ahmed Tinubu’s agenda for upgrading the health institutions in the country.
He described the life of the donor as well lived, with significant impact in the society and immediate community, creating employment for the indigenes of Ogun State, through valuable business enterprises, like Rite Foods Limited and Ess-ay Holdings Limited, which has contributed to the growth of the state’s and national economy.
According to the VP, Mr Adegunwa has inscribed his name in gold, adding that the octogenarian believes in leaving legacies that lives for generation and this has prompted the trauma centre which will impact lives tremendously.
On his part, Governor Dapo Abiodun of Ogun State applauded the philanthropic initiative of Mr Adegunwa, saying he has demonstrated an unwavering commitment to the healthcare system of Ogun State, and that the trauma centre marks a significant milestone towards attaining that.
In her remark, the Chief Medical Director of OOUTH, Dr Oluwabunmi Fatungase, said the 50 bedded centre has been the desire of the management of the hospital, as the old 20 bedded accident and emergency centre is too small to accommodate accident victims within the state, which serves as a route for travellers traversing the different regions of the country, with a 41.5 percent accident rate.
She said it is a dream of over 20 years by various administrations come true as there is no General Hospital from Lagos to Benin and Ibadan to take care of accident victims, thereby making the trauma centre a well thought out project by Asiwaju Adegunwa.
On his part, Mr Adegunwa said, “Today, l am filled with immense joy as l reflect on Sulaiman Adebola Adegunwa Trauma Centre as another fulfilment of opportunity to serve a higher calling to give and serve.”
By Modupe Gbadeyanka
A partnership to advance high-quality patient-centred healthcare in Nigeria has been entered into between Iwosan Investments Limited and Mayo Clinic Global Consulting.
The aim is to advise and support Iwosan in delivering world-class healthcare services that will positively impact both local and regional communities.
This includes the enhancement of Iwosan’s hospital network starting with Iwosan Lagoon Hospitals and the development and integration of the Lagos Medipark Hospital.
Mayo Clinic Global Consulting will to provide strategic advice on organizational objectives and clinical practice.
Under the consulting contract, Iwosan will work with Mayo Clinic experts on several projects to advance high-quality, patient-centred healthcare in Nigeria.
Mayo Clinic is a global leader in serious and complex healthcare. Mayo Clinic Global Consulting is designed to share Mayo Clinic’s unique, comprehensive capabilities and knowledge.
The focus of this engagement is to help the Iwosan network improve administrative efficiencies and effectiveness and to enhance medical practice and patient care through the application of Mayo Clinic’s integrated clinical care and practice models.
“This marks a significant milestone in our commitment to delivering exceptional healthcare services to the people of Nigeria.
“With guidance from Mayo Clinic Global Consulting, we are confident in our ability to set new benchmarks in healthcare excellence in our region,” the chief executive of Iwosan Investments, Mrs Fola Laoye, stated.
Iwosan Investments is a healthcare investment company with an ongoing commitment to revolutionize healthcare delivery in Nigeria.
By Adedapo Adesanya
The National Agency for Food and Drug Administration and Control (NAFDAC) is increasing efforts to block the entry of substandard and counterfeit products into Nigeria, particularly from China and India, the country’s two largest pharmaceutical trade partners.
This was revealed by Mrs Mojisola Adeyeye, the Director-General of the agency, emphasised that the Clean Report of Inspection and Analysis (CRIA) scheme has significantly strengthened regulatory control over imports from these nations.
The two nation’s account for 60 per cent of Nigeria’s pharmaceutical imports and yet, there is a lot of counterfeit and substandard medicines from these countries.
She said, “Because most of these drugs come from China and India, the CRIA scheme is operational in those two countries,” adding that, “It ensures that only safe and high-quality products are shipped while preventing the export of substandard and counterfeit products.”
She note that NAFDAC has appointed and accredited CRIA agents in China and India to conduct rigorous pre-shipment inspections to tackle the issue.
In addition to appointing CRIA agents in China and India, NAFDAC is collaborating with COTECNA, a global testing, inspection, and certification service provider, to enhance quality control measures.
Mrs Adeyeye urged stakeholders to engage with these CRIA agents before shipping any consignment to Nigeria, saying, “I strongly encourage you to engage with CRIA agents before shipping any consignment–that is, to our stakeholders– from China, India, or Nigeria. You have the flexibility to choose from any of the listed CRIA agents to ensure compliance and safeguard the quality of imported products.”
NAFDAC also introduced an electronic platform, the Port Inspection Data Capture and Risk Management System (PIDCARMS), to enhance document verification and streamline inspection processes.
Mrs Adeyeye noted that CRIA agents will ensure that rejected shipments carrying drugs will not find their way to the country.
She urged stakeholders to visit NAFDAC’s official website for guidelines on product registration, labelling, and shipment requirements to ensure compliance with regulatory standards in order to prevent such lapses and ensure only approved products enter Nigeria.
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