Silicon Valley Infuses Gene Testing Firm Genomind With $11M

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An $11 million bundle of financing will help spread Genomind’s genetic testing beyond King of Prussia and beyond even the United States.

The promise of more accurate pharmaceutical regimens for mental health patients has infused King of Prussia-based genetic testing firm Genomind with $11 million in a new round of equity financing.

Genomind LogoSilicon Valley Bank, alongside current shareholders, put up the money, which aims to propel personalized medicine to new levels domestically, to new countries internationally and to new innovative products, according to a Philadelphia Business Journal report by John George.

“Genomind is driving important advancements to mental health care through genetic testing,” said Silicon Valley Bank Vice President of Health Care and Life Science James Caccavaro. “We’re committed to helping the company achieve its goals through the right financing, connections and global services.”

Genomind’s flagship product is the Genecept Assay genetic test.

Read more about Genomind’s new deal in the Philadelphia Business Journal here, and check out previous MONTCO Today coverage of the company here.

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