Founded in 2017 by Zoe Milgrom and Kunal Kalro, Eugene offers
medical-grade genetic testing and counselling services to people
anywhere at any time. With a few drops of saliva, Eugene can
identify variations in genes that may lead to disease, allowing
you to proactively take control of your own health. Eugene was
the first company in Australia to make medical grade genetic
testing available to consumers directly and at-home, and has
screened over 12,000 people across Australia!
***
Welcome to installment #24 of the Investment Memo series and
overall episode #136 on the show.
Submit this EOI for your company to be considered in future
episodes of this special series!
Today, we’re unpacking the healthcare company that is Eugene, and
I’m joined by the two co-founders Zoe Milgrom and Kunal Karlo.
Founded in 2017, Eugene offers medical-grade genetic testing and
counseling services to people anywhere at any time. With a few
drops of saliva, Eugene can identify variations in genes that may
lead to disease, allowing you to proactively take control of your
own health.
Learn about how they first met, their experiences and motivations
to start Eugene, what exactly is genome sequencing and why it’s
critical to each of us, how the cost of sequencing a human genome
has dropped from $2.7B to nearly a thousand dollars, Eugene’s
business model and go to market strategy, their suite of products
and how they’re building broader community education and
awareness of genetic risks. I must admit I learnt a lot in this
conversation.
It’s now time to explore your curiosity. Please enjoy!
(Timestamps below)
***
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***
This episode is brought to you by Fullstack Advisory, Australia's
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***
03:35 - Where were Zoe and Kunal born and live now?
04:19 - What were Zoe and Kunal’s first jobs and now?
06:55 - Origin story of Eugene
13:01 - How Kunal and Zoe agreed to be co-founders
17:25 - First product launch
19:50 - Unpacking Genome sequencing
23:00 - $2.7Billion to $1,000
24:46 - Finding a solution to improve healthcare outcomes
27:20 - Fullstack Advisory
28:09 - Scientific and regulatory approval
30:10 - Go-To-Market strategy
34:15 - Business Model and Economics of B2B and B2C
35:37 - Education and awareness of genetic risks
43:40 - Product offerings at Eugene
***
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