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| Prelude backs American sortie |
| Written by Business Weekly | |
| Wednesday, 29 September 2004 | |
|
Prelude, the Cambridge technology investment trust, has pumped £347k into an exciting young UK business working in the area of genetic personalisation to help fund its maiden assault on the US.
Prelude, the Cambridge technology investment trust, has pumped £347k into an exciting young UK business working in the area of genetic personalisation to help fund its maiden assault on the US. The investment into Sciona Ltd forms part of a $4.1m funding round led by Prelude and Burrill & Co, the US life sciences investment bank. The cash haul will facilitate Sciona’s move to a new HQ in Connecticut, where it will incorporate as a new company and change its name to Sciona Inc. Prelude now owns around 22 per cent of the new business. Sciona develops tools and services that enable customers to customise personal care and nutrition products based on an individual’s genetic profile. It currently has two products on the market in the US and Europe for DNA testing and automated interpretation of those tests. It collaborates with Genaissance Pharmaceuticals in the US. |
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