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Downing Ventures participates in $50m Series C Funding round to advance genomic analysis software
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Downing Ventures is delighted to announce its participation in the Series C funding round in Congenica, the digital health company enabling rapid and accurate analysis of complex genomic data to transform people’s lives. Downing Ventures were existing investors in the round which was co-led by Tencent and Legal & General and new investors Xeraya, Puhua and IDO. Additional existing investors included investors Parkwalk and Cambridge Innovation Capital. 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 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, operating with a diverse array of customers from public health programs, major private laboratories and Academic Medical Centres. The new funding is aimed at accelerating international market development and commercialisation 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 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.
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.”
Will Brooks, Healthcare Investment Director, Downing Ventures adds: “Downing Ventures is happy to continue its support for Congenica. As a world leader in the genomic analysis of disease and as the clinical support platform for Genomics England, Congenica strengthens the ability to diagnose and enhance treatment of inheritable cancer and other rare diseases. This funding will enable the company to build out this platform to new territories and to become a powerful strategic player in genomic analysis worldwide.”
About Congenica
Congenica is a digital health company enabling the rapid analysis and interpretation of genomic data, empowering researchers to provide life-changing answers that will in future improve wellbeing and disease management.
Congenica’s world-leading software enables rapid genomic data analysis at scale, performing 20x faster than industry averages and providing a 30% higher analytical yield, reducing genomic interpretation costs by up to 95%.
Born out of pioneering research from the Wellcome Sanger Institute and the NHS, Congenica has a global footprint supporting leading international laboratories, academic medical centres and biopharmaceutical companies and is the exclusive Clinical Decision Support partner for the NHS Genomic Medicine Service.
