UK-based clinical genomics software developer Congenica has increased a series B round featuring Digital China Health (DC Health) Technologies, a corporate venturing vehicle for IT services group Digital China Holdings, to £23.3m ($30.1m).
Parkwalk Advisors, the fund management division of commercialisation firm IP Group, led a $17.1m extension to the round that included DC Health and unnamed strategic and existing investors.
Congenica raised $10m in a first close led by a Cambridge Innovation Capital (CIC), the patient capital fund affiliated to University of Cambridge, and backed by Parkwalk Advisors and Amadeus Capital Partners in early 2017.
The company closed a second tranche two months later, raising the cash from genomics technology provider BGI Genomics, healthcare services provider Healthlink and spinout-focused investment firm Future Planet Capital.
Founded in 2014, Congenica has created a software platform called Sapientia for clinical genomics analysis that is able to process the whole DNA genome to generate detailed diagnostic information that can be used to inform clinical assessments of diseases.
The additional capital will drive the company’s development of machine learning and statistical analysis-powered diagnostics support technology, and the addition of automation features to Sapientia, which will also be tailored to improve its cancer, pharmacogenomics and health management capabilities.
CIC provided $1.6m of seed funding for Congenica in 2014, before returning the following year to join Amadeus Capital Partners in a $3.3m series A round.
The original version of this article appeared on our sister site, Global University Venturing.