IGeneX Inc.

IGeneX Inc. is a diagnostic testing company specializing in Lyme disease and other tick-borne diseases, providing innovative testing solutions directly to consumers and healthcare professionals. Founded in 1983 and headquartered in Palo Alto, US, IGeneX Inc. focuses on diagnostic testing for Lyme disease.

The company has not undergone any notable pivots since its inception. It was formed by individuals with a strong background in diagnostics. The founder has not been disclosed. The company has engaged in a single funding round, wherein 4C Capital invested in September 2015, with the financial terms not publicly disclosed.

IGeneX specializes in diagnostic testing for Lyme disease and other tick-borne diseases. Their core offerings include various specimen collection kits, such as Blood, Urine, and Miscellaneous Kits, allowing patients to collect samples for laboratory analysis. Kits can be ordered directly by patients for a deposit, whereas healthcare providers can obtain them in bulk at no cost. Patients either visit designated blood draw sites or collect urine samples at home for shipment to IGeneX for analysis.

Test reports are sent to prescribing physicians, facilitating timely diagnosis and treatment. IGeneX's clientele includes patients concerned about tick-borne illnesses, healthcare professionals, and employers, with customers spanning across the US and various international markets. IGeneX generates revenue primarily through its diagnostic testing services, utilizing a direct-to-consumer and B2B model. Upon ordering testing kits, a deposit is collected upfront, which is credited towards the total testing fees once samples are processed.

Revenue is driven by comprehensive testing panels for Lyme disease and associated co-infections like Babesia and Bartonella. Healthcare providers typically facilitate orders and testing, with fees structured around specific tests to ensure accurate and timely diagnostic results essential for treatment. IGeneX plans to expand its product offerings with new diagnostic tests for emerging tick-borne diseases, with anticipated launches in the next 12 to 18 months. The company aims to penetrate international markets in Europe and Asia by 2025, leveraging recent investments for these initiatives.

The funding received from 4C Capital in September 2015 will support product development and market expansion activities.