-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.”
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/.