GenoME Diagnostics closes £1.4m funding round

Genome Team And Investors

GenoME Diagnostics has closed its Seed funding round to further develop its novel technologies.

The company said the funding round – which was supported by QUBIS, the commercialisation arm of QUB; Co-Fund NI, managed by Clarendon Fund Managers; and UK-based Deepbridge Capital – will also help GenoME to expand its regulatory approach and continue development of new technologies.

GenoME said the round also includes an additional £500,000 UK government grant for a project in collaboration with QUB, which will be used to continue the development of a novel blood test for earlier detection of other cancer types.

Read the full article – Ovarian cancer test company closes £1.4m funding round (The Irish Times)

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.
Dr Shannon Beattie