27 February 2017
CIC leads Congenica’s £8 million ($10 million) Series B financing round to drive international expansion of its genome analysis business
Cambridge Innovation Capital plc (CIC) a Cambridge-based investor in technology and healthcare companies, has led a £8 million ($10 million) Series B funding of Congenica, a leading provider of clinical genome analysis technology. Amadeus Capital Partners (Amadeus) also participated in the round 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.
Robert Tansley, Investment Director at CIC, said, “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.”
Tom Weaver, CEO at Congenica, explained, “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 and 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, and builds on the work of the ground-breaking Deciphering Developmental Disorders project. 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.
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.”
For more information, please contact:
Cambridge Innovation Capital
Robert Tansley, Investment Director
Louise Rich, Head of Investor Relations and Communications
+44 (0)1223 764875
Consilium Strategic Communications (City, financial PR)
+44 (0)20 3709 5700
Holdsworth Associates (local and trade PR)
+44 (0)1954 202789
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 www.cicplc.co.uk or follow @CambsInnovation
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
Sapientia™’s clinical genome analysis software platform analyses genome-scale DNA data to produce a comprehensive diagnostic report that and 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 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.