One year after resigning as 54Gene CEO, Abasi Ene-Obong is back in the arena

Abasi Ene-Obong, former co-founder and CEO of 54gene has launched a new startup—Syndicate Bio.

On Monday, Abasi Ene-Obong, former CEO of Nigerian health and biotech startup 54gene, announced the launch of his new venture, Syndicate Bio. Per his LinkedIn post, Syndicate Bio will drive genomics and precision medicine initiatives across the world’s most diverse regions, starting from Africa. “After a few months in stealth mode, I am happy to say that we have started Syndicate Bio to empower inclusive advancements in global genomics science.” Jumi Popoola and Estelle Dogbo will serve as the chief scientific officer and chief operating officer of Syndicate Bio. 

According to Ene-Obong, Syndicate Bio uses collaboration with governments, pharma companies, academia, and other stakeholders to drive local precision medicine impact while creating powerful datasets that can be used for drug discovery and development.“In the coming months, we will be sharing some of the great strides made in furtherance of our vision and mission,” the post concluded.

Ene-Obong founded 54gene in 2019 to address the shortage of African genetic material in pharmaceutical research. He stepped down in October 2022 following a challenging year for the company. The company saw its valuation slashed by over $100 million and eventually laid off 30% of its workforce. While the reason for his resignation was not disclosed, one publication insinuated that it was one of the conditions for investors to provide additional funding to the company.