COLUMBIA, SC – June 26, 2024 – Precision Genetics is proud to announce that it has been awarded a $1 million investment from InvestSC to advance its mission of personalized medicine in mental health treatment. InvestSC oversees the entire State Small Business Credit Initiative (SSBCI) program and its capital. It was established by the South Carolina Jobs-Economic Development Authority (JEDA) at the behest of the South Carolina Venture Capital Authority (VCA) to act as the Designated Investor Group
for the state.
Precision Genetics is honored to be the first business in South Carolina to receive funding, recognizing its cutting-edge innovation and technology for mental health treatment options.
InvestSC is designed to spur small business development and invest in start-ups that demonstrate significant potential to drive economic impact within the state. Precision Genetics, both founded and headquartered in Greenville, SC, experienced remarkable success during the COVID-19 pandemic with their digital health platform and diagnostic lab solutions. With its success, leadership has reinvested back into the community to further expand advance precision medicine with its suite of genetic testing solutions designed to improve patient treatment options.
Nate Wilbourne, CEO of Precision Genetics, expressed his gratitude: “We are thrilled and grateful to receive this investment from InvestSC. This will significantly accelerate our efforts to develop and implement advanced technological solutions aimed at reducing the costs associated with mental health treatment. Our mission is to make mental health care more accessible and affordable for everyone in South Carolina. With this support, we are one step closer to achieving that goal.”
Will Cruz, Chief Investment Officer of InvestSC, expressed his support: “InvestSC is thrilled and proud to invest in such impactful technology and to back a highly capable team and CEO. This investment exemplifies the kind of innovation that needs to be advanced.”
For more information around their solutions, visit www.precisiongenetics.com.
About Precision Genetics
Headquartered in Greenville, South Carolina, Precision Genetics offers value-based care solutions, powered by a molecular diagnostic platform to drive better patient outcomes while reducing the overall cost of care.
Precision Genetics is modernizing the standard of care to enable doctors to prescribe medications with precision and safety. Our solutions help provide better patient outcomes and lower overall healthcare costs.
By combining evidence-based technology and population risk analysis into a comprehensive and actionable solution, we can deliver seamless clinical decision support to foster nothing less than research-based personalized medicine for patients. At Precision Genetics, we’re ushering in a new, less costly and more efficient standard-of-care.
About InvestSC
InvestSC, Inc. (InvestSC) was formed by the South Carolina Jobs-Economic Development Authority (JEDA) at the specific request of the South Carolina Venture Capital Authority (VCA), an agency formed within the South Carolina Department of Commerce to identify and select qualified professional investors who will invest in South Carolina companies. InvestSC was organized in 2007 as a nonprofit corporation and received 501(c)(3) tax-exempt status approval from the Internal Revenue Service. The VCA Board selected InvestSC to serve as a “Designated Investor Group” under the provisions of the Venture Capital Investment Act of South Carolina and the InvestSC Board approved the Company to serve as a “Designated Investor Group” for the purpose of assisting the VCA in meeting the goals and objectives of the VCA Program.
