Clinical decision support platform provider Congenica, announced it has raised a further £13.25 million ($17.2 million) in additional equity investment, led by Parkwalk Advisors. New investors, included Digital China Health Technologies Corporation Limited (DCHealth), alongside follow-on funding from existing investors. The total amount raised across its B round now totals £23.3 million ($30.25 million).
Congenica, the provider of the Sapientia clinical decision support platform that identifies disease-causing genetic variants, was named last October as the exclusive provider of diagnostic decision support services for the recently launched NHS Genomic Medicine Service. The company is now looking to build upon that position, with commercial scale-up to support further penetration into international markets, to expand on the initial focus of the US and China.
“With the formalization of our partnership with the NHS, we are now focused on accelerating the introduction of important new features to our platform. These funds will allow us to automate Sapientia, to support wider usage and reduce costs to healthcare providers, helping more clinicians provide accurate, rapid and cost-effective diagnoses to patients and their families,” said David Atkins, Congenica CEO. “In addition, we can now begin to penetrate international markets. The deepening of our relationship with DCHealth gives us greater insight into the needs of the China market, with the recent development of an on-premise version of our platform the most notable example.”
The company said it will use the new infusion of capital for the development of an enhanced product leveraging statistical analysis and machine learning technology to improve the predictive capabilities of its platform. It plans to unveil new versions of Sapientia to incorporate extensive automation and broaden the clinical and commercial focus to support cancer treatment decisions, pharmacogenomics and health management. In addition, based on customer demand, Congenica also added on-premise computing capability earlier this month.