Cambridge Innovation Capital has backed the series B round, alongside other investors that included Parkwalk Advisors.
Congenica, a provider of clinical genome analysis technology spun out of charitable foundation Wellcome Trust, received £8m ($10m) in series B funding on Monday from investors including Cambridge Innovation Capital (CIC).
CIC, Cambridge University’s venturing fund, participated alongside spinout-focused investment firm Parkwalk Advisors and VC firm Amadeus Capital Partners.
Congenica is commercialising research conducted at Wellcome Trust’s Sanger Institute. The spinout is working on a platform, called Sapientia, that enables clinicians to gain actionable insight into genetic diseases.
The company will use the cash to continue the commercial rollout of Sapientia, accelerate international growth an expand customer support. The money will also enable further product development.
Alastair Kilgour, partner at Parkwalk, will join Congenica’s board.
In 2015, Congenica raised £2.2m in its series A round from CIC and Amadeus. CIC previously provided £1m in seed capital in 2014.
Congenica was the first company to move into the Biodata Innovation Centre on the Wellcome Genome Campus and in September 2015 was awarded £300,000 in an Innovate UK grant.
In March 2015, it was announced that Congenica had been awarded £2m by Genomics England in its SBRI Phase Two assessment of Enabling Technologies for Genomics Sequence Data Analysis and Interpretation.
Robert Tansley, investment director at CIC, said: “Having supported Congenica from its foundation, we are pleased to have seen the company grow and achieve a number of important milestones.
“Located in the world-leading Cambridge cluster, Congenica has demonstrated its potential both in the UK and more widely, attracting a range of customers and winning accolades through industry awards. We remain convinced of the global potential of the Sapientia technology in a range of applications.”
Martin Dougherty, chief operating officer of Wellcome Trust Sanger Institute, said: “Congenica is a great example of how world-leading scientific research from the Wellcome Trust Sanger Institute, with investment in continued technological advancement and commercialisation can be translated into products and services that have an impact on human health and society.”