Genomic medicine boost as GeneAdviser raises £350k
GeneAdviser, a Cambridge UK startup that has developed an online ordering platform for clinical genetic testing, has raised £350k in its first round of seed funding.
The round has been led by Cambridge biotechnology angel Dr Jonathan Milner, who joins the board as chairman.
Further funds are contributed by another serial entrepreneur Dr Darrin Disley – CEO of Horizon Discovery – Dr Chris Torrance (founder and CEO of Phoremost), Simon Thorpe (Delta2020), Cambridge angel investment vehicle Martlet and other individuals.
Clinicians are already using GeneAdviser to order specialist genetic tests from the NHS Regional Genetics Centre at Addenbrooke’s Hospital in Cambridge.
CEO Dr Jelena Aleksic, a geneticist by training, won Business Weekly and Cambridge Judge Business School’s inaugural Woman Entrepreneur of the Year accolade in March.
Formed by a growing team of Cambridge scientists and geneticists, the company provides an independent platform for clinicians to quickly compare and order specialist genetics services, advancing the uptake of genomic medicine into the healthcare market.
Aleksic said the funding would allow GeneAdviser to expand the ordering platform into a broader marketplace, making it easier for clinicians worldwide to select and order genetics services.
She said: “We are now partnering with more public and private labs that are world experts in rare disease and cancer genomics,” says Dr Aleksic.
“We are excited to have a service that matches the needs of clinicians to make genetic medicine more accessible to patients, co-developed with Dr Steve Abbs at Addenbrooke’s Hospital and based on extensive interviews with doctors across Europe.”
Dr Milner added: “GeneAdviser fills a great need for accessible genetic testing and will significantly impact the lives of patients with rare disease, cancer and neurological conditions.
“It shows real potential to scale quickly and become the market leader in this space. I’m impressed by the way the team has created the platform over the past year and look forward to helping them make their ambitious longer-term plans a reality.”
The investment will allow the company to serve its increasing customer base by rapidly bringing new laboratories on board, expanding the existing online platform to offer a wider range of clinical genetic tests.
GeneAdviser says its platform removes a major bottleneck in the uptake of new genomic medicine technologies. The funding will also help expand the developer team.
GeneAdviser was supported in its first year by the Accelerate Cambridge programme at Cambridge Judge Business School, the Social Incubator East and the UK Trade & Investment ‘Passport to Export’ programme.