Cambridge, United Kingdom – 30th April 2019 – 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 SapientiaTM 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.
SapientiaTM combines heritage from the Wellcome Trust Sanger Institute with real-world commercial and clinical experience through work with Genomics England’s 100K Genomes Project, NHS Genomic Medicine Centres and NHS Trusts across the UK. SapientiaTM helps clinicians quickly identify the genetic variants that cause disease to support clinical decision-making. It has also played a role in a number of other significant national-scale genomics projects including China’s 100K Wellness Project.
About Digital China Health
Digital China Health (DCHealth), backed by Sequoia China and others, is well-known as a leading company in medical big data and precision medicine within China. It has participated in various national projects including building the National Rare Disease Registry System of China. It has participated in various national projects including building up the National Rare Diseases Registry System of China.
DCHealth has also gained substantial experience in collaborating with hospitals in China to build IT systems to facilitate patient care. Digital China Health Technologies Co., Ltd. has been dedicated to the development and innovation in healthcare Big Data and Precision Medicine to promote healthcare information technology both in China and worldwide. DCHealth aims to be a world leader in the industry of healthcare IT and Big Data.
About Parkwalk Advisors
Parkwalk is a London-based independent investment management firm managing the leading EIS Growth Fund, with a portfolio focused on companies spun out from the UK's leading universities and other research-intensive institutions to develop and commercialise relevant new technology. It currently has an active portfolio of over 90 companies and has invested, since inception, around £250m in the asset class.
Global University Venturing declared Parkwalk the most active investor in global University spin-out investing in the first half of 2018. www.parkwalkadvisors.com
Issued for and on behalf of Congenica by Instinctif Partners.
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