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Congenica Closes $50M Series C Funding Round

NEW YORK – Congenica said Monday that it has closed a $50 million Series C round of venture capital.

Tencent and Legal & General co-led the round, with participation from new investors Xeraya, Puhua Capital, and IDO Investments. Previous Congenica investors Parkwalk, Cambridge Innovation Capital, and Downing also contributed.

The Cambridge, UK-based developer of genomic analysis and clinical decision support technology said that the money would enable the firm to explore new "strategic and geographic capabilities," including a push into somatic cancer and wellness programs.

"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," Congenica CEO David Atkins said in a statement

Congenica also expects to accelerate integration of its technology platform into electronic health records systems and to automate genomic interpretation.

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," according to Ling Ge, chief European representative and general manager of China-based Tencent. "This represents a significant competitive advantage and the potential to bring genomic medicine into routine use across multiple disease areas driving healthcare systems internationally."

The firm most recently raised £23.3 million ($30.7 million) in a Series B round in 2019.

In 2018, Congenica signed an exclusive deal with the UK National Health Service to provide diagnostic decision support services to the NHS Genomic Medicine Service.