Published: Aug 03, 2021
Focus:
Growth Capital
Following its Initial Public Offering (IPO), which raised an additional £17 million including further support from the Maven VCTs, GENinCode was listed with a market capitalisation of £42.2 million generating an uplift in the value of the investment at IPO of 2.7 times cost.
GENinCode’s advanced genomic technology helps to identify patients at high risk of cardiovascular disease, the leading cause of death globally, and to develop personalised treatment plans. Healthcare is shifting away from ‘one-size-fits-all’ treatments towards targeted approaches which use modelling techniques, such as those developed by GENinCode, to make predictive healthcare decisions based on a patient’s genetic information.
Maven originally invested in GENinCode as part of a £3.4 million funding round in July 2020, which helped the company to prepare for accelerated growth and international scale, as well as supporting a regulatory and clinical pathway to the US market. The GENinCode team had identified an AIM listing as a key strategic objective for the business, and impressive early growth, underpinned by extensive scientific and clinical success in validating its genomic technology and products, led to the decision to float the company.
This IPO is another success story for Maven’s VCTs. We are proud to have supported GENinCode’s impressive progress to date, and to have played a part in helping the business float on AIM. We believe that GENInCode will continue to deliver attractive growth and our further investment made as part of the IPO process underlines our confidence in the quality of the management team and the future prospects for the business.
Stella Panu, Partner at Maven
