54gene
Health TechNigeriaClosed 2024
Total Raised
$45M
Peak Valuation
Undisclosed
Employees
—
Year Collapsed
2024
Business model
Genomics research company building an African genetic data biobank for drug discovery partnerships.
In brief
Aimed to correct the severe underrepresentation of African genetic data in global drug research by building a large-scale biobank across Nigeria and other African countries. A pandemic-era pivot into COVID-19 testing brought early revenue but distracted from the core genomics mis…
See the What Happened tab for the full account.
Key facts
- Founded
- 2019
- Closed
- 2024
- Headquarters
- Lagos, Nigeria
- Industry
- Health Tech
- Employees
- —
- Revenue
- Undisclosed
- Founders
- Abasi Ene-Obong
Related failures
Forward
2017–2024Health Tech · USA
Ran out of funding$400MTheranos
2003–2018Health Tech · USA
Fraud$945MOlive AI
2012–2023Health Tech · USA
Overexpansion$852MOutcome Health
2006–2017Health Tech · USA
Fraud$500MPractice Fusion
2005–2020Health Tech · USA
Fraud$157MuBiome
2012–2019Health Tech · USA
Fraud$105M
Often compared with: 23andMe, Illumina.