Cambridge Epigenetix raises $88 million Series D financing to advance best-in-class DNA sequencing technology platform
Cambridge Epigenetix (CEGX), a life sciences tools and technology company revolutionizing genome sequencing, has announced the signing of an $88 million Series D financing, bringing the total funds raised to date to $146 million. Temasek led the Series D round with participation from new investors including Third Point and existing investors such as GV, New Science Ventures, Ahren Innovation Capital and Sequoia.
Proceeds from the financing will be used to commercialize the company’s proprietary genetic and epigenetic sequencing technology, which easily integrates into existing sequencing platforms to enable more information to be read from DNA. The technology has been validated by leading genomic research institutions of which several, including Professor Dennis Lo of The Chinese University of Hong Kong, and Professor Wolf Reik of the Babraham Institute, have continued using the technology through early access programs.
Professor Sir Shankar Balasubramanian FRS, founder of Cambridge Epigenetix, said, “We are pleased to have raised a significant Series D round from high-profile investors to support the commercial launch of the first product from our new multi-omic platform, and the expansion of our organization. Importantly, our sequencing technology works with all sequencers and enhances their accuracy as opposed to replacing or competing with them. Further, our technology has the potential to dramatically reduce the cost of genome sequencing, as the low sample requirement and streamlined workflow facilitate its cost-effectiveness and ease of use without sacrificing accuracy. We look forward to product and to making game-changing contributions to DNA sequencing, epigenomic research and precision medicine.”
CEGX’s product unambiguously identifies five letters of DNA – four genetic bases (A-T-C-G) plus methylated cytosine (5mC or 5hmC) – in a single sequencing workflow with a low DNA sample requirement and high accuracy. Epigenetic marks are a vital source of biological information that will enable the next generation of diagnostics such as those for early cancer detection. The laboratory component of CEGX’s product is in manufacture and these kits, combined with software, are expected to be available for purchase in early 2022. This will be followed by the launch of additional platform products, the next being a 6-letter kit.
Temasek is an investment company with a net portfolio value of S$381 billion (US$283b) as at 31 March 2021.
Headquartered in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines Temasek’s three roles as an Investor, Institution and Steward, which shape its ethos to do well, do right, and do good.
As a provider of catalytic capital, it seeks to enable solutions to key global challenges. With sustainability at the core of all Temasek does, it actively seeks sustainable solutions to address present and future challenges, as it captures investible opportunities to bring about a sustainable future for all.
For more information on Temasek, please visit www.temasek.com.sg.
About Third Point
Third Point LLC is an SEC-registered investment adviser based in New York. The firm was founded in 1995 by Daniel S. Loeb, who serves as Chief Executive Officer. The firm often engages with company managements and boards to improve performance and will also take passive stakes in companies with a long-term view of value creation. For over twenty years, Third Point has partnered with entrepreneurs throughout a company’s lifecycle from the earliest stages to pre-IPO and beyond.
About Cambridge Epigenetix
Cambridge Epigenetix is revolutionizing sequencing by delivering new dimensions of information from DNA to see and treat disease earlier and transform life sciences and medicine. The commercial-stage company’s platform provides more information with greater efficiency at higher quality and lower cost than standard next generation DNA sequencing technology. Easily integrating into existing sequencers, the company’s products allow the user to see at-a-glance genomic and epigenetic information. This information can be used to detect, diagnose, treat and understand disease. Based in Cambridge, UK, the company is founded by a pioneer in DNA sequencing intent on leading the next great leap forward in genomics.