Maven VCTs invest in Gen inCode
HMT LLP advised Maven Capital Partners on their investment in Gen inCode, a genetic testing business specialising in the risk assessment and prediction of cardiovascular disease.
Founded in 2018, Gen inCode has developed a range of patented DNA risk assessment products which utilise AI, bioinformatics and a globally recognised clinical evidence base to provide predictive analysis of a patient’s health risk. Proprietary algorithms are used to predict the probability of adverse events, resulting in a comprehensive risk evaluation that provides key insights into a patient’s susceptibility to disease and clinically actionable results that empower patients to take steps to reduce their risk.
Gen inCode’s advanced clinical diagnostic tests cover major global disease areas such as Cardiovascular, Cancer and Diabetes. Its solutions are enabling healthcare practitioners to identify high risk patients and proactively develop targeted treatment and prevention plans; helping to transform the delivery of healthcare, reduce costs and improve patient outcomes.
Gen inCode raised in total £3.4 million from this funding round, with the Maven VCTs co-investing £1.5 million alongside Downing LLP and existing private shareholders. The business has built up a strong IP portfolio and today’s funding will enable the business to expand overseas, particularly in the US, capitalising on the growth in emerging precision medicine market.
HMT undertook financial due diligence for Maven on this transaction.
Dale Bellis, Investment Director at Maven commented:
Paul Read commented:
“We are delighted to have advised Maven on yet another transaction this year. The precision medicine sector is currently booming and innovative healthcare businesses such as Gen inCode are well positioned to grow and develop. We look forward to working with them again in the future.”
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