Sanger Institute clinical analysis spin-out goes from strength to strength
Congenica raises £8M ($10M) to drive international expansion of its genome analysis business
Congenica, a leading provider of clinical genome analysis technology, has raised £8m ($10m) in its Series B financing round. Based on the Wellcome Genome Campus, the company was founded in 2014 by Sanger Institute researchers Dr Matt Hurles and Dr Richard Durbin to build on the pioneering work of the Deciphering Developmental Disorders (DDD) project.
Congenica provides personalised medicine through an online platform called SapientiaTM that highlights potential disease-causing variants in a patient’s genome and links these to observed symptoms and supporting research literature. The technology has been adopted in a number of important markets, including 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.
“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.”
Dr Martin Dougherty, COO, of the Wellcome Trust Sanger Institute and the Wellcome Genome Campus
The company will use the Series B investment from to sustain the commercial rollout of its SapientiaTM clinical genome analysis platform, by accelerating international growth and expanding customer support. It will also invest in further product development and innovation.
“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 the Congenica team to realise our next steps in product development, international expansion, and in supporting our growing user base.”
Tom Weaver, CEO at Congenica
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 with global pharmaceutical discovery and development partners.
The Series B funding has been provided by existing investors Cambridge Innovation Capital plc (CIC) and Amadeus Capital Partners (Amadeus), along with and Parkwalk Advisors (Parkwalk). In 2015, Congenica raised £2.2 Million in a series A financing, following a seed financing round of £500K in 2014.
“Having supported Congenica from its early stages, we 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.”
Robert Tansley, Healthcare Investment Director at CIC
“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.”
Hermann Hauser, Co-Founder and Partner, Amadeus Capital Partners
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.”
Alastair Kilgour at Parkwalk
Notes to Editors
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.
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 and 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.
About Amadeus Capital Partners
Amadeus is a global technology investor. Since its inception in 1997, the firm has raised over $1bn for investment and backed more than 100 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is based in India, South Africa, Sweden, UK and USA, has deep experience in technology and invests in high-growth companies from early stage to pre-IPO.
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.
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