New CEO as Cambridge Epigenetix raises $5.5m
Cambridge Epigenetix, a UK life sciences business, has appointed Dr Fedja Bobanovic as CEO and completed a $5.5M Series A financing led by New Science Ventures.
Also joining the round were founding investors Syncona Partners and Cambridge Enterprise.
CEGX is a rapidly growing company focused on developing innovative methods and technologies to revolutionise the fields of epigenetics and personalised medicine.
The company was founded in 2012 with its proprietary ox-BS methodology, which pioneered quantitative, single-base resolution sequencing of 5-hydroxymethylcytosine (5hmC) & 5-methylcytosine (5mC).
In 2013, CEGX launched the TrueMethyl™ kit, allowing researchers to access ox-BS sequencing for the first time. The TrueMethyl kit is now in use in labs around the world and has already formed the technological backbone of several breakthrough epigenetic papers.
Dr Martin Murphy, CEO of Syncona Partners and chairman at CEGX said: “Cambridge Epigenetix has received considerable attention from the investment community over the past year and we are delighted to welcome New Science Ventures to the board.
“We would also like to welcome our new CEO, Dr Fedja Bobanovic, who has an exceptional track record of generating growth in life sciences businesses.”
Dr Bobanovic, who joins CEGX from Danaher Corp. added: “Cambridge Epigenetix plans to use the funding to continue to explore a range of commercial applications for our oxBS-sequencing products in the life sciences industry.
“We also remain dedicated to investing in R & D as we foresee that an IP-backed portfolio will continue to be of critical importance to the company’s future.
“We are pleased to have the continued support of our existing investors and look forward to working with our new investor, New Science Ventures, which brings deep scientific expertise and years of experience in building valuable life sciences companies.”
Professor Shankar Balasubramanian of the University of Cambridge’s Department of Chemistry founded Cambridge Epigenetix in 2012 to develop innovative epigenetic research tools that can identify, decode and help elucidate the function of the ‘extra’ DNA bases.