Gen inCode secures £3.4m in funding co-led by Maven Capital Partners for international expansion
Maven Capital Partners co-led the £3.4m round to support the firm in scaling its operations overseas, notably in the US market.
Gen inCode is a genetic testing business that develops patented DNA risk assessment products for major global disease areas. Its proprietary algorithms provide predictive analysis to help healthcare practitioners personalise treatment pathways.
Gen inCode has secured a £3.4m funding round co-led by Maven Capital Partners alongside an institutional investor and existing private shareholders. The firm raised £1.5m from Maven as part of the total financing. The capital will be deployed to support international expansion, particularly in the United States, as the company scales its precision medicine offerings.
The business uses patented DNA tests, artificial intelligence and bioinformatics to evaluate patient risk across major disease areas including cardiovascular health, cancer and diabetes. The fresh backing follows the company's 2018 founding and the acquisition of assets from Ferrer inCode and Gendiag.exe.
From the founder
"We are delighted to complete the institutional round of funding and welcome our new institutional investors. The funding will prepare the Company for accelerated growth and international scale and supports our regulatory and clinical pathway into the US market. We look forward to advising the market on our progress and further milestones in due course."
Matthew Walls
Chairman and CEO at Gen inCode
Investor perspective
"Gen inCode represents a fantastic opportunity for Maven to support a truly innovative business which is utilising AI and bioinformatics in order to enable medical practitioners to make more proactive, precise and impactful decisions on how they treat their patients. The precision medicine market is an exciting space and webelieve Gen inCode is well positioned to grow, leveraging its advanced genomic technology and the valuable IP it has amassed to date. We look forward to working with the senior management team to fulfil the company’s potential."
Stella Panu
Partner, Maven
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Gen inCode
Gen inCode provides genetic testing and predictive DNA risk assessment products for healthcare practitioners.