GENinCode, a specialist in the development of predicative genetic testing for cardiovascular and related diseases, has floated on London’s Alternative Investment Market (AIM).
The company has developed a quick genetic test for cardiovascular disease (CVD).
Through a simple blood or saliva sample, the test can analyse a patient’s medical information and genetic variants of the disease to determine a genetic score that is then used for the assessment of a patient’s cardiovascular risk.
Following its Initial Public Offering (IPO), which raised an additional £17 million, including a further investment from the Maven Venture Capital Trusts, GENinCode was listed with a market capitalisation of £42.2 million generating a total return at IPO of 2.7 times original cost.
GENinCode’s advanced genomic technology helps to identify patients at high risk of cardiovascular disease, the leading cause of death globally, and to develop personalised treatment plans. Healthcare is shifting away from ‘one-size-fits-all’ treatments towards targeted approaches which use modelling techniques, such as those developed by GENinCode, to make predictive healthcare decisions based on a patient’s genetic information.
Maven originally invested in GENinCode last year as part of a £3.4 million funding round in July 2020, which helped the company to prepare for accelerated growth and international scale, as well as supporting a regulatory and clinical pathway to the US market. The GENinCode team had identified an AIM listing as a key strategic objective for the business, and impressive early growth, underpinned by extensive scientific and clinical success in validating its genomic technology and products, led to the decision to float the company.
GENinCode risk assessment models are based on its in-house developed algorithms and machine learning which it says allows it to accurately measure and assess a patients clinical and genetic risk.