Maven VCTs invest in Gen inCode
We are pleased to announce that the Maven VCTs have invested £1.5 million in Gen inCode, a genetic testing business specialising in the risk assessment and prediction of cardiovascular disease, cancer and diabetes. Gen inCode raised a total £3.4 million from this funding round, with the Maven VCTs co-investing alongside Downing LLP and existing private shareholders.
Gen inCode has developed a range of patented DNA risk assessment products which utilise AI, bioinformatics and a globally recognised clinical evidence base to provide predictive analysis of a patient’s health risk. Proprietary algorithms are used to predict the probability of adverse events, resulting in a comprehensive risk evaluation that provides key insights into a patient’s susceptibility to disease and clinically actionable results that empower patients to take steps to reduce their risk.
Gen inCode’s advanced clinical diagnostic tests cover a range of serious health conditions. Its solutions are enabling healthcare practitioners to identify high risk patients and proactively develop targeted treatment and prevention plans; helping to transform the delivery of healthcare, reduce costs and improve patient outcomes.
Healthcare is shifting away from ‘one-size-fits-all’ treatments towards targeted approaches that utilise patients’ genetic information to inform healthcare decisions. Gen inCode’s predictive modelling of patient data is helping personalise treatment pathways by more accurately addressing disease risk and the appropriate course of treatment to be taken.
Gen inCode was founded in 2018, acquiring the assets of the Ferrer inCode and the Gendiag.exe businesses, then part of Ferrer, a large Spanish pharmaceutical and healthcare company. The funding from the Maven VCTs will enable Gen inCode to expand overseas, particularly in the US, capitalising on the growth in the emerging precision medicine market.
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 we believe Gen inCode is well positioned to grow, leveraging its advanced genomic technology and the valuable IP it has amassed to date.
Stella Panu, Partner at Maven
We are delighted to complete the institutional round of funding and welcome our new institutional investors. The funding will prepare the business 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, CEO at Gen inCode