Downing is a responsible investment manager established in London in 1986 that oversees capital across various asset classes including healthcare and renewable energy.
The funding round was led by BGF and Downing to support the rollout of the company's respiratory diagnostics business.
"COPD is the third leading cause of death in the world and prevalence of respiratory diseases is rising. But the current clinical pathway for COPD diagnostics is stuck in the 1800s and is ineffective, inefficient and expensive. In England alone, the NHS estimates that a third of people with hospital admissions from COPD have not been diagnosed, by which point their disease has progressed, their quality of life has deteriorated and the cost to the healthcare system has ballooned."
The financing round was led by Pembroke VCT and Downing Healthcare Ventures to support the company in scaling its AI surgical technology.
"Cydar Medical is at a key inflection point and we are working to leverage our novel world-class platform and capabilities to rapidly scale our intelligent surgical maps offering through increasing the number of end-users and launching additional value-add capabilities on the platform."
The financing round drew participation from Legal & General, Tencent, and QVentures to support genomics software development.
"We are thrilled to be supporting Congenica in developing their world-leading technology to deliver life-changing answers. At QVentures, we strive to support cutting-edge technology companies that really change how an industry operates and we believe David and his team are doing just that. We are pleased that QVentures’ Family Offices and UHNWI investors could join us on that journey."
The financing round was co-led by Tencent and Legal & General to support international expansion and product development.
"Genomic medicine is revolutionising 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 disease and bring the power of our platform to new indications and new markets. We welcome our new investors to Congenica and are grateful to our existing investors for their continued support."
