Congenica Ltd. secures USD 50 million in a Series C funding round
Category: #business  By Saipriya Iyer  Date: 2020-11-10
  • share
  • Twitter
  • Facebook
  • LinkedIn
Congenica Ltd. secures USD 50 million in a Series C funding round

U.K.-based digital health company Congenica Ltd. has reportedly announced that it has secured USD 50 million (£39 million) in a series C funding round. The new funds will provide strategic as well as geographic opportunities which will help the company expand its global reach.

According to reliable sources, the round was co-led by Tencent, Legal & General as well as additional new investors including IDO Investments, Puhua Capital and Xeraya. Congenica’s existing investors namely Downing, Cambridge Innovation Capital and Parkwalk had also participated in the financing round.

The newly secured funds will accelerate Congenica’s efforts in international markets and expand its product portfolio into somatic cancer, oncology, wellness, and other pharmaceutical collaborations. Sources further claimed that the company intends to offer better solutions such as ability to integrate with current electronic health systems and provide features including end-to-end automated interpretation.

In this context, CEO at Congenica, Dr. David Atkins was reported saying that genomic medicine analysis has not only revolutionized healthcare but also has offered vital answers for better patient outcome, disease management and overall individual wellbeing. He confirmed that the new funds will enable the company to expand its reach in new markets.

Dr. Ling Ge, General Manager and Chief European Representative at Tencent mentioned in a comment that Congenica has a competitive edge owing to its industry leading technology which can offer personalized medications and can be integrated into standard healthcare systems.

If reports are to be believed, Cogenica will focus on making strides into machine learning capabilities and developing personalized decisions as well as treatment options in order to revolutionize wellness and health of patients across the globe.

About Congenica Ltd.

Renowned as a leader in genomic analysis of inherited cancer and rare diseases, Congenica has developed a diverse customer-base of pharmaceutical companies, academic medical centers, diagnostic laboratories and hospitals across the globe. The company’s initial and vast commercial success has allowed it to establish a customer network spanning across 18 countries.

Source Credits –

https://www.globenewswire.com/news-release/2020/11/09/2122387/0/en/Congenica-Completes-50m-Series-C-Funding-Round-to-Advance-Clinical-Genomic-Analysis-Software-and-Data-Platform.html

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

Read More >>

More News By Saipriya Iyer

Patanjali plans to sell food retail biz to Ruchi Soya for $88Mn
Patanjali plans to sell food retail biz to Ruchi Soya for $88Mn
By Saipriya Iyer

Indian multinational conglomerate holding company, Patanjali Ayurved has recently signed an agreement to sell its food retail unit to Ruchi Soya Industries for Rs 690 crore (USD 88 Million). The deal, which comprises 21 major products such as hone...

Apollo in talks to pump $1Bn into India’s residential property market
Apollo in talks to pump $1Bn into India’s residential property market
By Saipriya Iyer

Apollo Global Management Inc., an American investment management firm, is reportedly planning to lend around $1 billion to Indian property developers this year, making a bet on the recovery of the country’s residential property market as the CO...

Meta platforms join hands with AMD to make broadband more accessible
Meta platforms join hands with AMD to make broadband more accessible
By Saipriya Iyer

The two companies will collectively work on mobile internet infrastructure program This partnership aims to reduce base station cost and make broadband more accessible   Meta Platforms Inc., the parent company of Facebook, has rece...