Green Shield Canada (GSC) has made an investment in GenXys Health Care Systems Inc. Financial terms were not disclosed.
Vancouver based GenXys Health Care Systems is a provider of comprehensive precision prescribing software. GenXys precision prescribing software and pharmacogenetic solutions prevent adverse drug reactions, a leading cause of death in developed countries, and personalize drug selection to increase drug efficacy.
Green Shield Canada and GenXys will collaborate on new pharmacogenomics products set to launch later this year with a focus on driving more informed prescribing, fewer adverse drug reactions and better health outcomes for patients.
GenXys Health Care Systems is backed by Telus Ventures and Chinese incubator company JiuHui TYDO (), having raised $1.77 million seed funding in 2018.
photo credit: GenXys
Green Shield Canada invests in GenXys to harness power of pharmacogenomics
TORONTO, May 26, 2020 (GLOBE NEWSWIRE) With the concept of personalized medicine gathering momentum across the health care environment, Green Shield Canada (GSC) is pleased to announce an investment in GenXys, a Canadian pharmacogenomics leader, to leverage the value of tailoring drug treatment to a persons total health profile including their genetic makeup.
The two companies will be collaborating on new pharmacogenomics products set to launch later this year with a focus on driving more informed prescribing, fewer adverse drug reactions and better health outcomes for patients.
GenXys stood out as a forward-thinking partner that shared our commitment to solving complex health challenges, explains David Willows, GSCs EVP, Digital, Innovation and Brand Experience. GSC has a long history of measuring the value of health benefits spending, and we look forward to exploring the role of pharmacogenomics in maximizing patient health outcomes and advancing the specific value of drug spend.
We are excited to be working with the GSC team as we shape the next stages of the pharmacogenomics story, says Karl Pringle, GenXys CEO. Our partnership opens the door to a wide range of new possibilities.
This investment comes on the heels of a groundbreaking study conducted by GSC and HBM+ (its health benefit management solutions division) on the impact of pharmacogenomics on more than 200 outpatients who had been diagnosed with major mental health conditions, including depression and anxiety.
The full study results will be shared later this summer, but one key finding stands out those patients receiving pharmacogenomics-guided treatment reported significantly greater improvements over a six-month period across a range of clinical outcome measures, including severity of depression and anxiety as well as level of disability.
We had always felt that the key unanswered question was whether clinician access to pharmacogenetic test results would improve patient outcomes, adds Willows. This study clearly showed that it can, strengthening our belief in the impact of pharmacogenomics-guided treatments.
For more information:GSC Media Department1.800.268.6613 ext. email@example.com
About Green Shield Canada (GSC)
GSC is Canadas fourth-largest health and dental benefits provider, and is uniquely structured as a social enterprise with the purpose of making it easier for people to live their healthiest lives. From coast-to-coast, our service delivery includes drug, dental, extended health care, vision, hospital, and travel benefits for groups and individuals, as well as administration and benefits management services. Supported by outcomes-based sustainability strategies, advanced technology, and exceptional customer service, GSC creates innovative programs for nearly four million plan participants nationwide. greenshield.ca
Ted is the architect of CVCA infobase, and is the architectof CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
Recommendation and review posted by G. Smith