-
Extension of Series B investment round, led by existing investor
Parkwalk Advisors -
Digital China Health joins as new investor, building on existing
strategic partnership -
Congenica to accelerate commercial expansion in international
markets following successes with Genomics England and the NHS in the UK -
Proceeds will also accelerate the development of the next
generation Sapientia™ platform to bring AI-mediated decision
augmentation and automation to rare disease and cancer therapy
management.
CAMBRIDGE, England–(BUSINESS WIRE)–Congenica,
the global clinical decision support platform provider, today announced
it has raised a further £13.25 ($17.1) million in additional equity
investment, led by Parkwalk Advisors. The round attracted new strategic
investors, including Digital China Health Technologies Corporation
Limited (DCHealth), alongside follow-on funding from existing investors.
The total amount raised across its B round financings is now £23.3
($30.1) million.
Congenica was recently awarded a multi-year contract to be the exclusive
provider of Diagnostic Decision Support Services for the world leading
NHS Genomic Medicine Service, allowing clinicians to use its Sapientia™
platform and expert support services to interrogate the human genome
to identify disease-causing variants. The company is now looking to
accelerate growth, with commercial scale-up to support further
penetration into international markets, to expand on the initial focus
of the US and China.
In addition, the new capital will drive the development of an enhanced
product platform that harnesses the power of statistics and machine
learning technology to augment the ability of users to make diagnostic
decisions. In parallel, new versions of the company’s SapientiaTM
platform will incorporate extensive automation and broaden the clinical
and commercial focus to support cancer treatment decisions,
pharmacogenomics and health management.
Dr David Atkins, CEO of Congenica, said: “With the formalisation
of our partnership with the NHS, we are now focused on accelerating the
introduction of important new features to our platform. These funds will
allow us to automate SapientiaTM, to support wider usage and
reduce costs to healthcare providers, helping more clinicians provide
accurate, rapid and cost-effective diagnoses to patients and their
families.
“In addition, we can now begin to penetrate international markets. The
deepening of our relationship with DCHealth gives us greater insight
into the needs of the China market, with the recent development of an
on-premise version of our platform the most notable example.”
Mr David Shi, CEO of DCHealth, commented: “As the provision of
routine clinical genomics services continues to increase in China and
other global markets, the challenge of analysis and interpretation of
genomic data into meaningful, clinically-actionable results is coming
into force. Our investment reflects Congenica’s proven abilities and
track record and underlines our confidence that its platform and
services will contribute to the new era of genomic medicine
internationally.”
Dr Andy Richards, Chairman of Congenica, said: “Congenica is at
the exciting scale-up stage of its commercial development, at the
forefront of the fast-moving genomics market. Its recent successes
demonstrate that, with the right investment and leadership,
world-leading technology companies can be built from UK science. With
this additional investment, Congenica is poised to become the leading
clinical genomics service provider; and will benefit patients globally.”
– Ends –
About Congenica
Congenica is the provider of the diagnostic decision support platform,
SapientiaTM, and associated clinical services, which enable
clinicians to interrogate the human genome to identify disease-causing
variants.
80% of rare diseases are thought to have a genetic component, and
patients wait an average of 4.7 years, and typically see 7.4 different
clinical specialists, before getting a diagnosis. SapientiaTM
enables clinicians to progress through workflows more quickly,
optimizing throughput of patients, number of patients diagnosed and
reducing costs.
Headquartered in Cambridge, UK, and with a footprint in the US and
China, Congenica is born out of pioneering research from the Wellcome
Trust Sanger Institute and the NHS. Congenica was a partner for the
pivotal Genomics England 100,000 Genomes Project and is now the
exclusive provider of Diagnostic Decision Support Services for the NHS
Genomic Medicine Service.
To date the Company has raised a total of £26 ($33.5) million from
investors including Parkwalk Advisors, Cambridge Innovation Capital
(CIC), Amadeus Capital Partners, Future Planet Capital and now DCHealth.
For the full release please visit https://www.congenica.com/.
Contacts
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Telephone: +44-(0)20-7866-7863
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