Congenica, the genomics data analytics, and clinical treatment decision platform announced the completion of its Series C funding round, raising $50 million.
The funding round was co-led by Tencent and Legal & General and included other new investors Xeraya, Puhua Capital, and IDO Investments. Existing investors Parkwalk, Cambridge Innovation Capital, and Downing also participated.
Lazard acted as sole financial advisor to the company.
The new funds will help expand its geographic footprint. The funds will also further its product platform into somatic cancer, wellness, and partnerships with pharmaceutical companies.
Dr. Ling Ge, Chief European Representative and General Manager, Tencent: “Congenica’s technology is designed to enable the delivery of personalized medicine at scale and be fully integrated into routine healthcare customers’ clinical practice on a global basis. This represents a significant competitive advantage and the potential to bring genomic medicine into routine use across multiple disease areas driving healthcare systems internationally.”
According to the company, its genomics analytics platform enables the analysis and interpretation of genomic data. The platform is designed to provide personalized clinical decisions and treatments for rare diseases and inherited cancer.
“Genomic medicine is revolutionizing healthcare, transforming outcomes for patients by providing clinicians with fast, accurate, and early diagnoses and the information needed to provide life-changing answers for their patients, improving wellbeing and disease management. This new funding will allow us to build on our established foundation in rare diseases and bring the platform to new indications and new markets,” said Dr. David Atkins, Chief Executive Officer of Congenica:
Clinical Decision Support software companies raised $660 million in the first nine months of 2020. Recently, Curation Health, a clinical decision support platform developer, has announced the completion of a Series A financing round for an undisclosed amount. The round was led by Deerfield Management Company and supported by existing investor WindRose Health Investors.