Congenica Raises £8M ($10M) In Series B Financing Round To Drive International Expansion Of Its Genome Analysis Business
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.”
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.”