Developer of disease diagnosis secures more than £6m in funding round

Credit: Tagomics

A University of Birmingham spin-out is set for growth following a £6.7m funding round.

Tagomics, a developer of a platform for disease insight and diagnosis, builds on the pioneering research led by Dr. Robert Neely, the company’s chief scientific officer.

It will use funds to accelerate its research and product development efforts, particularly in advancing the diagnosis and treatment of diseases like cancer.

The funding round was spearheaded by Calculus Capital and joined by investors such as Illumina Ventures, IQ Capital, and others, will fuel Tagomics’ mission.

A £1.6m pre-seed round was led by IQ Capital and Start Codon, along with support from Innovate UK grants.

Since securing investment, Tagomics has become the first tenant of Illumina Ventures’ Labs in Cambridge.

Dr. Jack Kennefick, CEO and co-founder at Tagomics, said: The multi-omic capabilities of Tagomics’ approach enable more comprehensive insight into diseases such as cancer; these insights will enable us to develop simpler and more accurate means of diagnosing and treating patients. We’re pleased to welcome such an experienced group of investors on board to help us accelerate the development of our platform and support our efforts in expanding the capabilities of genomic medicine.”

Elizabeth Klein, investment director at Calculus, said: We are delighted to support Tagomics as the company embarks on its next phase of expansion, applying its innovative technology to discover new markers for disease diagnosis and management. We were attracted to the company not only for its novel science, but its exceptional management team led by CEO Dr Jack Kennefick, an inventor on 3 of the company’s patents and recipient of the prestigious Royal Society of Edinburgh’s Enterprise Fellowship.

“The Chair, Dr Kirk Malloy, has more than 25 years’ experience in growing life science companies, and NED Pascal Bamford, has previously held leadership positions at MonoGen, Epic Sciences, Genomic Health (now Exact Sciences), Ventana-Roche and currently Akoya Biosciences.”