enlightenbio  Blog

Genomics plc completes oversubscribed $30M funding round

Published 1 Mar 2021

Genomics plc, a pioneering healthcare company that uses large-scale genetic information to develop innovative precision healthcare tools, is pleased to announce that it has successfully completed a $30m funding round. Some highlights include: • Follows achievement of significant milestones in both its Precision Health and Therapeutics division • Significant investment from leading life science investors Foresite Capital and F-Prime Capital • Existing backers Oxford Sciences Innovation and Lansdowne Partners also participated • Fundraise was oversubscribed Genomics plc will use the funding to expand its work building a patient-centric, population health platform that unlocks a more proactive, precise and personalised form of healthcare.

Genomics plc is leading the new area of genomic prevention: a paradigm-changing approach to sustainable healthcare. For the first time, it allows reliable and personalised estimates of risk for common diseases, well ahead of disease manifestation. This allows targeted interventions and tailored screening to either prevent disease entirely, or to catch it early when outcomes remain favourable.

Genomics plc’s population health management services and clinical decision support tools bring greater, earlier, and more accurate understanding about an individual’s risk for all the common chronic diseases and cancers to doctors and their patients. The company also uses insights from genomic variation to accelerate the discovery and development of new medicines.

Prof. Sir Peter Donnelly, Co-Founder and CEO of Genomics plc, said:

“We are delighted to be supported by leading life sciences investors who share our vision. We have known for over 50 years that genetics plays a key role in risk for all the common chronic diseases and cancers, and now we have a robust way to calculate that risk.”

“This new approach to healthcare, called Genomic Prevention, can identify people at risk for developing each disease early, and is critical to driving more efficient screening and a prevention first approach to healthcare. More successful disease prevention will improve patient lives and make healthcare systems more sustainable.”

Dr. Jim Tananbaum, CEO of Foresite Capital, commented:

“Genomics plc plays a key role in transforming how we understand and deliver precision medicine at scale. We are excited to support this talented management team as the company embarks on its next growth phase.”

Dr. Stephen Knight, President and Managing Partner of F-Prime Capital, added:

“The convergence of data sciences with life sciences is one of the most exciting areas in healthcare today and we see Genomics plc as a clear leader in that field. The company’s proprietary research platform powered by a large dataset of genotypic and phenotypic information, combined with the leading statistical genomics team in the world, deliver unique insights in the discovery of new therapeutic targets as well as key advancements in preventative healthcare.”

Author / source: Genomics plc / https://www.genomicsplc.com/news/genomics-plc-completes-oversubscribed-30m-funding-round/

Press Release

ADVERTISEMENT

Follow Me

%d bloggers like this: