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

ARENA to furnish $2.6M to develop Australia’s first hydrogen microgrid
ARENA to furnish $2.6M to develop Australia’s first hydrogen microgrid
By Saipriya Iyer

With regards to plans for the development of Australia’s first renewable hydrogen based remote microgrid in Western Australia, ARENA (The Australian Renewable Energy Agency) will reportedly furnish a sum of $2.6 million to Horizon Power, the go...

Atipa Technologies introduces Procyon G-Series for enhanced research
Atipa Technologies introduces Procyon G-Series for enhanced research
By Saipriya Iyer

Atipa Technologies, a prominent provider of storage and computing solutions, has reportedly introduced a deep learning and high-performance platform named Atipa Procyon G-Series. The platform is powered by latest NVIDIA A100 Tensor Core GP...

Vestas secures another 50 MW wind farm order from Vietnam-based GEC
Vestas secures another 50 MW wind farm order from Vietnam-based GEC
By Saipriya Iyer

Vestas, a leading Danish wind turbine manufacturer, has reportedly secured another 50 MW wind energy farm contract in Vietnam with la Bang Wind Power Joint Stock Company, a local energy firm and a subsidiary of GEC (Gia Lai Electricity Joint Stock Co...