Genome Diagnostics closes £1.4m Funding Round

GenoME Diagnostics, an investee company within Deepbridge's Life Sciences SEIS portfolio has recently closed a £1.4 million funding round which will be used to further develop its lead product OvaME, a novel blood test for earlier and more accurate detection of ovarian cancer.

Shannon Beattie, CEO of GenoME Diagnostics, commented:

“At GenoME, we are aiming to improve patient survival and quality of life through affordable and highly accurate tests. This is a significant funding round for us and will help to further develop these life-changing products.

“Currently, a large proportion of ovarian cancer cases are caught at the later stages of the disease, so patients unfortunately have a very poor survival rate. Cancers detected at an earlier stage provide much more opportunity for intervention and improve patient survival.

“Milestones like these will be pivotal in opening conversations with public health bodies and allowing the team to progress our tests further to market. Our ultimate long-term ambition is to eventually enter public screening programmes, however our first market is disease monitoring and diagnosis.”      

Ben Carter, Head of Life Sciences at Deepbridge Capital, added: 

“GenoME is a great example of the type of innovative company that the funding via UK’s Enterprise Investment Scheme is designed to support. We are delighted to be collaborating with QUBIS, Clarendon and InnovateUK to provide GenoME with the funding and resources required to take their next commercial and scientific steps; which ultimately could save and improve lives.”

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