Downing Ventures is delighted to announce completion of a £3.4 million round with a £1.5 million investment in GEN inCode UK Limited alongside Maven and other existing private shareholders. The investment propels GEN inCode to internationally scale its products and technology and expand its operation in Europe, the UK and U.S by incorporating genetics into daily medical practice.
The investment is exemplary of the commitment that Downing Ventures makes to the healthcare sector and driving forward life-changing medical research and practice. With cardiovascular disease (CVD) being the leading cause of death and disability worldwide and accounting for 1 in every 4 deaths in the United States, GEN inCode’s advanced genomic technology allows health practitioners to identify high risk patients, enabling behavioural change alongside delivery of the most effective course of treatment.
In September 2018, the Company acquired the products, assets and knowledge of the Ferrer inCode and the Gendiag.exe businesses, then part of The Ferrer Group, a large pharmaceutical and healthcare multinational company. This investment marks a new chapter for the company as they take their unique take on personalised genetic medicine to a global scale.
Dr Will Brooks, Healthcare Investment Director at Downing Venture comments:
“We are excited to further support GEN inCode on its journey to use genetics to revolutionise precision medicine and refine CVD risk. The company is well positioned to benefit from the increasing focus on prevention driven medicine by more accurate and early detection combined with precisely tailored and timed treatment.”
Matthew Walls, Chairman and CEO, said:
"We are delighted to complete the institutional round of funding and welcome Downing as one of our new institutional investors. The funding will prepare the Company for accelerated growth and international scale and supports our regulatory and clinical pathway into the U.S. market. We look forward to advising the market on our progress and further milestones in due course."
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This article is for information purposes, should not be regarded as investment or taxation advice and no reliance should be placed upon it. Any personal opinions expressed are subject to change and should not be interpreted as advice or a recommendation. Downing LLP is authorised and regulated by the Financial Conduct Authority in the UK (Firm Reference No. 545025), Registered Office: St Magnus House, 3 Lower Thames Street, London EC3R 6HD.