New Funds to Drive Further Commercialisation of Rare and Inherited Cancer Applications and Expansion into Oncology, Wellness and Pharma Collaborations
Cambridge, United Kingdom – 9 November 2020 – Congenica, the digital health company enabling rapid and accurate analysis of complex genomic data to transform people’s lives, is pleased to announce the completion of its Series C funding round, raising US$50m/£39m.
The round was co-led by Tencent and Legal & General and included other new investors Xeraya, Puhua Capital and IDO Investments. Existing investors Parkwalk, Cambridge Innovation Capital and Downing also participated. The global nature of this important financing round brings new strategic and geographic capabilities that will further advance Congenica’s existing global footprint.
A pioneer in genomic analysis, Congenica has established a diverse, global customer-base of hospitals, diagnostic laboratories, academic medical centres and pharmaceutical companies based on its exceptional scientific heritage from the Wellcome Sanger Institute and as the exclusive Clinical Decision Support service provider in the delivery of the ground-breaking UK NHS Genomic Medicine Service. Congenica’s initial commercial success has led to a customer network spanning 18 countries.
Congenica is recognised as a leader in the genomic analysis of rare diseases and inherited cancer. The new funding is aimed at accelerating international market development and driving further expansion of Congenica’s product platform into somatic cancer, wellness and through partnerships with pharmaceutical companies. Furthermore, Congenica will deliver advanced capabilities including the ability to integrate with existing electronic health systems and deliver fully automated interpretation capability. Underpinning Congenica’s value is its unparalleled use of a vast range of high quality data sources.
By integrating its software into existing systems and infrastructure, and further developing ground-breaking machine learning capabilities, Congenica is building a future where personalised decisions and treatments, guided by genomic information, can be routinely used to transform the health and wellness of individuals around the world.
Lazard acted as sole financial advisor to the Company.
Dr David Atkins, Chief Executive Officer, Congenica: “Genomic medicine is revolutionising healthcare, transforming outcomes for patients by providing clinicians with fast, accurate and early diagnoses and the information needed to provide life-changing answers for their patients, improving wellbeing and disease management. This new funding will allow us to build on our established foundation in rare disease and bring the power of our platform to new indications and new markets. We welcome our new investors to Congenica and are grateful to our existing investors for their continued support.”
Dr Ling Ge, Chief European Representative and General Manager, Tencent: “Congenica’s market leading technology is designed to enable the delivery of personalised medicine at scale and be fully integrated into routine healthcare customers’ clinical practice on a global basis. This represents a significant competitive advantage and the potential to bring genomic medicine into routine use across multiple disease areas driving healthcare systems internationally. We look forward to supporting Congenica as it continues to find innovative solutions to transform healthcare”.
Jessica McCreadie, Investment Director of Health & Care, Legal & General Retail Retirement: “We are growing our reputation as an investor in the health, wellness and longevity sectors as part of our desire to help people live longer, happier and healthier lives. Congenica’s technology platform is market leading and the expanding team has the experience to deliver on its huge potential. We are excited by the change Congenica will affect over the coming years in delivering preventative, personalised healthcare.”
Author / source: Congenica / https://blog.congenica.com/congenica-completes-50m-series-c-funding-round-to-advance-clinical-genomic-analysis-software-and-data-platform
[…] saw huge funding rounds, including: 54gene ($15M, Series A), Atomwise ($123M, Series B), Congenica ($50M, Series C), Freenome ($270M, Series C), DNAnexus ($100M, Series G), Ginkgo ($70M, Series F), GRAiL ($390M, […]