Nigeria’s genomics startup 54gene will get new CEO because the agency strikes to lift further progress capital

 Ron Chiarello, PhD, has been appointed CEO after serving as co-CEO of 54gene, Inc. a well being information expertise firm on a mission to rework racial disparity in genomics analysis information globally, because the agency positions itself to pursue new strategic partnerships and lift further capital.

Chiarello was serving as co-CEO since earlier this 12 months. He was beforehand founder, CEO, and Chairman of Alveo Applied sciences. He additionally based Jetalon Options, Etalon Applied sciences, and Orion Metrology, and held analysis positions at Stanford College and Argonne Nationwide Laboratory.

Teresia Bost, who served as interim CEO since final October, will stay with the corporate as an advisor. Bost has over 20 years’ expertise in well being care and has held management roles at Celgene, Jazz Prescription drugs, and Quartet Well being earlier than becoming a member of 54gene. Bost took over after Dr. Abasi Ene-Obong stepped down in October final 12 months as CEO of 54gene, the African genomics firm he based in 2019. Ene-Obong supported the corporate within the function of Senior Advisor and retained his place on the 54gene Board of Administrators. 

“We respect the large contributions Teresia has made to the corporate and are enthused to have sturdy and skilled leaders serving to transfer the corporate ahead,” stated Jenny Yip, Board Chair of 54gene and Managing Accomplice at Adjuvant Capital. “We’ve nice belief and confidence within the imaginative and prescient and self-discipline Ron brings to his elevated function and are grateful so as to add Tobi’s deep funding expertise and experience in Africa to our board.”

Tobi Oke, Managing Accomplice of V8 Capital Companions, an African enterprise tech enterprise capital fund based mostly in Lagos, Nigeria, has been appointed to 54gene’s Board of Administrators. Previous to founding V8 Capital, Oke labored as the top of Intel Capital (Africa) and in management roles with Customary Chartered Personal Fairness, HSBC, and Booz Allen.

Temi Awogboro, Founding Accomplice of Alcent Capital and Co-Founding father of Kairos Angels, and MAGIC, enterprise capital funds investing globally with a portfolio in Africa, will function an advisor and Board of Administrators observer. Awogboro beforehand was Govt Director of TPG portfolio firm Evercare Hospital Lekki and regional lead with Evercare Well being Fund. She started her profession at Goldman Sachs.

“54gene is fixing the problem of racial disparity in genomics information and paving the best way for extra inclusive healthcare outcomes,” stated Oke. “With dedicated traders and companions in Africa and globally, we’re solely centered on 54gene’s authentic mission and constructing a definite and unprecedented platform in its variety and scale.”

54gene goals to considerably enhance the inclusion of information from African populations in genomics analysis. Most genomic information used for improvement analysis right this moment is from Europe and North America, whereas lower than 3% is from Africa. Rising entry to genomic information from African populations will enhance the effectiveness and relevance of merchandise to the well being of African folks and energy therapeutic discoveries benefiting all populations.

The corporate’s 600,000-sample capability biobank, which already holds 130,000 samples, is the most important business biobank in Africa and one of the vital numerous on the planet. By means of its strong accomplice and scientific community on the continent, 54gene has entry to tens of millions of sufferers to assist its mission. Thus far, the corporate has raised $45 million {dollars} from main traders together with Adjuvant Capital, V8 Capital, KdT Ventures, and Cathay AfricInvest Innovation Fund.

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