UK-based personal medicine company Horizon Discovery has raised £6.25m ($9.9m) in its series C round and revealed Switzerland-based pharmaceuticals company Roche as its corporate venturing investor.
Roche Venture Fund has reinvested in Horizon’s third round of funding, which was led by venture capital firm DFJ Esprit as a new investor and included angel investors David Evans, chairman of AIM-quoted Immunodiagnostic Systems, and Jonathan Milner, chief executive of antibody supplier Abcam that has had one of Europe’s most successful flotations in the past decade and is now worth more than $1bn.
Darrin Disley, executive chairman of Horizon since his appointment in June last year, said: "Historically, Horizon has adopted a leveraged business model fuelled by modest investment and organic growth. This model has served us well and enabled the company to grow 300% and generate £2.1m revenues and £8m in orders in the 12 months to the end of Q3 2010."
The company, which was founded in 2007 using money from university technology transfer investor Cambridge Enterprise Seed Funds, tests cancer treatments.