Genomics, a 2014 life sciences spin-out from Oxford University, has raised £10.3m ($16.24m) in a series A round.

Oxford University is one of the investors in the round, and is joined by commercialisation investor IP Group, a separate investment from IP Group’s IP Venture Fund II, Invesco Perpetual, Lansdowne Partners, Woodford Investment Management, and the Wylie Family Trust.

The UK-based company is developing a genomic sequence data analysis platform, and is already working with pharmaceutical companies to bring the fruits of that analysis to bear on drug development. It has also attracted two grants from the UK Department of Health and David Norwood, a serial entrepreneur behind fellow Oxford spin-out Nanopore Technologies, as its chairman.

John Colenutt, CEO of Genomics, said: “We are tremendously excited about the potential for genomic analysis to transform healthcare and about the ability of the Company to play a major part in that revolution. We are delighted that this vision is shared by investors and look forward to building Genomics to be a major force in the industry.”