UK-based personal medicine company Horizon Discovery has raised a further £6.9m ($10.5m)in its series C funding round, led by Dr. Jonathan Milner, CEO, Abcam Plc, with existing investors DFJ Esprit, MVM Life Science, Roche Venture Fund (corporate venturing unit of Switzerland-based pharmaceuticals company Roche), David Evans, Peter Collins, and Providence Investment Company Limited also participating. New investors include Wren Capital, Calculus Capital, the University of Cambridge Enterprise Fund and members of Horizon’s senior management team.
The series C round is now closed, having raised a cumulative total of £18.2m ($29.1m).
The funds will enable Horizon Discovery to transition from a three-year investment phase (2010-12) to an organic growth phase that it forecasts will deliver sustainable profit from H2 2013.
Dr Darrin M Disley, chief executive officer (CEO) of Horizon Discovery said: “I look forward to leading the business through this organic growth phase and delivering shareholder value and a liquidity event within the next business cycle.”
Dr Jonathan Milner, lead investor, Horizon Discovery non-Executive Director and CEO of Abcam Plc, said: “We live in a golden age of biology and companies like Horizon are exciting because of the application of a business model that is able to exploit the many diverse opportunities that arise from having a scalable and versatile platform technology. I look for three things in companies that I get involved with and invest in. The first is an outstanding management team, the second is a platform technology that can disrupt and grow a market and last but not least customers banging on the door. Horizon has all three in abundance.”
Horizon Discovery was founded in July 2007.