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Congenica raises £8M ($10M) in Series B financing round to drive international expansion of its genome analysis business

04:12 EST 27 Feb 2017 | Instinctif Partners

CAMBRIDGE, UK - 27 February, 2017 - Congenica, a leading provider of clinical genome analysis technology, announced today that it has raised £8m ($10m) in its Series B financing round. Existing investors, Cambridge Innovation Capital plc (CIC) and Amadeus Capital Partners (Amadeus) participated alongside new investor, Parkwalk Advisors (Parkwalk).

Congenica will use the Series B investment to sustain the commercial roll out of its Sapientia clinical genome analysis platform, by accelerating international growth and expanding customer support. It will also invest in further product development and innovation.

Congenica has developed the Sapientia technology platform to analyse genome-scale DNA data, producing comprehensive diagnostic reports that facilitate clinical decision-making and inform R&D. Since the launch of Sapientia in 2014, the technology has been adopted in a number of important markets with contracts across the UK, China, US and other EU countries. It has been validated by leading independent institutes and clinicians, including Genomics England Ltd under the UK 100K Genomes Project.

Tom Weaver, CEO at Congenica, said: “Congenica’s vision is to ensure that advances in genomics bring benefits to patients and healthcare delivery. Our goal is to be the international leader in data solutions for rapid and accurate diagnosis of rare genetic disease. This financing will enable the exceptional work of our team to realise the next steps in product development, international expansion, and in supporting our growing user base.”

Congenica recently announced the appointment of US-based Chief Business Officer Dr Shikha O’Brien, who will be instrumental in driving growth in international clinical diagnostics markets, as well as with global pharmaceutical discovery and development partners.

Sapientia is based on pioneering research by the UK Wellcome Trust Sanger Institute, a shareholder in the company. Dr Martin Dougherty, COO, Wellcome Trust Sanger Institute said: “Congenica is a great example of how world-leading scientific research from the Wellcome Trust Sanger Institute, with investment in continued technological advancement and commercialisation can be translated into products and services that have an impact on human health and society.” Congenica was the first company to move into the newly opened Biodata Innovation Centre on the Wellcome Genome Campus.

Robert Tansley, Investment Director at CIC, added: “Having supported Congenica from its foundation, we are pleased to have seen the company grow and achieve a number of important milestones. Located in the world-leading Cambridge cluster, Congenica has demonstrated its potential both in the UK and more widely, attracting a range of customers and winning accolades through industry awards. We remain convinced of the global potential of the Sapientia technology in a range of applications.”

Hermann Hauser, Co-Founder and Partner, Amadeus Capital Partners, said: “Amadeus is known for investing in game-changing technologies and we strongly believe that Congenica’s genome-based diagnostics will have a profound impact on healthcare. Its data platform offers a truly personalised medicine solution, utilising patient-derived genomics data and providing the best diagnostic performance in the industry. We are pleased to continue to be part of Congenica’s journey.”

Following its investment, Alastair Kilgour at Parkwalk will join Congenica’s Board. Commenting on its decision to invest in the Series B he said: “Congenica is well positioned to provide key analytical components in the drive towards personalised, genomics-based medicine. The standard-setting efforts in genomics by the UK NHS and Genomics England provide an indicative framework for future success.”

About Congenica

Congenica, a Cambridge, UK-based Company, is a world-leading developer of genome-based discovery and diagnostic technologies, and has developed the Sapientia™ genome analysis technology platform that facilitates clinical and R&D decision-making worldwide.

A private Company, Congenica is backed by leading Life Sciences investors including Cambridge Innovation Capital, Amadeus Capital Partners and Parkwalk Advisors, a member firm of IP Group plc.

Find out more about Congenica at www.congenica.com or follow @Congenica

About Sapientia™

Sapientia™’s clinical genome analysis software platform analyses genome-scale DNA data to produce a comprehensive diagnostic report that can be linked to patients’ symptoms, supporting clinical decision-making about rare genetic disease. The platform is based on pioneering research from the UK Wellcome Trust Sanger Institute, NHS clinicians and regional genetic testing laboratories, and its underlying technology has been validated by leading independent institutes and clinicians, including Genomics England Ltd. Sapientia™ is also being used in the advancement of personalised medicine by the global pharmaceutical industry to create disease registries, identify patient populations for clinical studies, and supporting the discovery of novel drug targets and biomarkers.


About Cambridge Innovation Capital
CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to invest in rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies - with the support of some of the most influential figures in the sector and a patient capital structure.

For more information, visit http://www.cicplc.co.uk/ or follow @CambsInnovation

About Amadeus Capital Partners

Amadeus Capital Partners is a global technology investor. Since 1997, the firm has backed more than 120 companies and raised over $1bn for investment.

With vast experience and a great network, Amadeus Capital’s team of investors and entrepreneurs share a passion for the transformative power of technology. We invest in consumer services, financial technology, artificial intelligence, cyber security, medical technology, digital health and digital media.

Pioneering businesses we’ve backed include gene-sequencing innovators Solexa, cyber security vendor ForeScout, eye-tracking specialist Tobii, Optos, producer of advanced retinal imaging, and Kreditech, provider of financial products to the ‘underbanked’.

To learn more visit https://amadeuscapital.com or follow us at @AmadeusCapital


About Parkwalk Advisors
Parkwalk, an IP Group plc company, is one of the UK’s leading technology Enterprise Investment Scheme fund managers. Parkwalk Funds invest in high-growth, knowledge-intensive companies with a focus on technology and innovation primarily sourced from UK universities. Investments are made across the growth curve from early-stage through to AIM-listed. The firm also manages a series of early-stage funds in conjunction with the technology transfer offices of the Universities of Cambridge, Oxford and Bristol.

About Wellcome Trust Sanger Institute

The Wellcome Trust Sanger Institute, located near Cambridge UK at Hinxton, is one of the premier centres of genomic discovery and understanding in the world. It leads ambitious collaborations across the globe to provide the foundations for further research and transformative healthcare innovations. Its success is founded on the expertise and knowledge of its people and the Institute seeks to share its discoveries and techniques with the next generation of genomics scientists and researchers worldwide.

Issued for and on behalf of Congenica by Instinctif Partners.

 

For more information please contact: Dr Priya Kalia / Sue Charles Instinctif Partners Telephone: +44 207 866 7862 Email: congenica@instinctif.com NEXT ARTICLE

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