54gene, a Nigerian technology company has announced the launch of its diagnostic arm. The 7RiverLabs diagnostic labs have state-of the-art technology. They are designed to provide world-class, cost-effective and reliable molecular diagnostics for healthcare professionals and patients.
According to the company, the market for medical testing in Sub-Saharan Africa amounts to US$10 billion. Unfortunately, most molecular tests sent to Africa are done outside the continent. This has led to capital flight.
If this sector was invested in, it could see an average growth rate of over 4% per year. This is directly tied to affordability, quick turnaround times and accurate diagnosis. 7RiverLabs is now known as DiagnoseMe Africa. It can deliver these services across Nigeria and the entire continent.
54gene appointed Jude Uzonwanne, its Chief Business Officer, to be the interim CEO at 7RiverLabs in order to fulfill these promises.
The interim CEO spoke out about the company’s goals and stated that the diagnostic laboratory is complementing the efforts of both the government and the industry to achieve the mandate of the Nigerian Ministry of Health towards better care for the general public.
This is a significant development for Nigeria, he said. In addition, he expressed optimism that the company will create hundreds of jobs as it forms trusted partnerships with top hospitals, health insurance companies and healthcare professionals in Africa as part its expansion.
54gene has closed a $25 Million Series B funding round in September. This funding would allow the company to expand its capabilities in target identification, validation and sequencing. The capital will also be used for precision medicine clinical trials, which will enable drug discovery in Africa for both Africans as well as the global population.
7RiverLabs: How it works
54gene reports that 7RiverLabs sample collection centers are currently open in Lagos and Abuja, Kano, Port Harcourt, and Kano. The collection centres employ over 100 people. In the next few months, more centres will be opened in Nigeria’s 10 largest cities. There is also a plan for Pan-African expansion in 2022.
With the help of modern laboratories and significant workflow improvements, more than 300 crucial molecular tests can be carried out safely and securely. These include oncology and infectious diseases, genetic testing, sequencing, anatomic pathology and clinical chemistry.
Some tests are as low as a couple thousand Naira, which is generally less expensive than the market rates. Results are delivered digitally to the doctors for follow-up.
54gene CEO and founder Dr Abasi spoke out about its services. He said that 7RiverLabs was a manifestation one of the goals 54gene set to achieve two-years ago, which is to improve diagnosis and treatment outcomes across the continent.
Millions of Africans can take control of their health with the wide range of tests 7RiverLabs provides. With this new diagnostics arm, we want to make sure that all Africans have access to our hubs providing advanced laboratory tests without paying a high out-of-pocket cost. he stated that patients will get fast results that will help their doctors reduce late diagnosis, which can lead to poor survival chances, and improve their treatment options, ultimately improving their quality of living.
54gene was launched in 2019 and has been a driving force for genomics, molecular medicine, and other innovations throughout Africa. 7RiverLabs aims to provide precision medicine for all Africans. 54gene, based on this vision, has domesticated diagnostic technology. This eliminates the need to send samples abroad for analysis. However, it comes at a significant cost to the patient. Doctors will be able detect and prevent disease earlier. This will improve patient care and quality of life.