Amadeus invests in genetic testing pioneers, Igenomix
Amadeus Capital Partners, the global technology investor, today announces that it has made a growth capital investment in Igenomix, the world’s leading in-vitro fertilization (IVF) genetic testing company, based in Valencia, Spain.
Igenomix’s main customers are the most reputable providers of fertility treatments across the world. Its genetic services encompass all phases of fertility treatment, through preconception, pre-implantation and pre-natal, providing tests that help parents to increase their chances of having a healthy baby by screening embryos for chromosome and single gene disorders.
Igenomix tested over 30,000 embryos in 2015 in its six laboratories in Valencia, Miami, Los Angeles, New Delhi, São Paulo and Dubai and has a team of over 140 employees of which 21% have PhDs. Amadeus Capital’s investment in the company will back its international expansion, with a special emphasis on the US market. Amadeus’s investment will also support the development of ground-breaking testing services at its leading laboratory in Valencia.
David Jimenez, Chief Executive Officer, Igenomix, commented on Amadeus Capital’s investment: “According to the World Health Organisation, infertility will be the third most serious disease this century. Approximately 1 out of 10 couples of reproductive age are currently infertile. Genetic testing will prove crucial in ensuring that treatments supporting fertility will be successful for families. Amadeus’ support as an investor, with a deep understanding of genetic technologies, will help Igenomix to progress our international development and fund research into new testing services.”
Andrea Traversone, Partner, Amadeus Capital Partners, added: “Amadeus Capital sees Igenomix as a compelling investment opportunity in a fast-growing sector of the healthcare market, based on major advances in genetic technology and improved access to IVF services. Igenomix has an exceptional management team in David Jimenez and Chief Scientific Officer Carlos Simon MD, PhD, recognised as a pioneer in IVF-related genetics, and we look forward to helping them build the business globally.”
In making this investment, Amadeus Capital Partners has joined a syndicate of investors including lead investor Charme Capital Partners, Aleph Capital and Graham Snudden.
Amadeus Capital Partners is a global technology investor. Since its inception in 1997, the firm has raised over $1bn for investment and backed more than 100 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is based in India, South Africa, Sweden, UK and USA, has deep experience in technology and invests in high-growth companies from early stage to pre-IPO.
Major businesses built by Amadeus include CSR, a connectivity, audio, imaging and location semiconductor company, now owned by Qualcomm (NASDAQ: QCOM); Solexa, the developer of next generation genetic analysis systems, merged into Illumina (NASDAQ: ILMN) to create the world leader in gene-sequencing technology; Optos, the retinal imaging company, acquired by Nikon; ForeScout, a global enterprise security vendor; Octo Telematics, the provider of insurance telematics services acquired by Renova Group; and Tobii, the global innovator in eye tracking (STO: TOBII). For more information, please visit www.amadeuscapital.com
Igenomix was created in 2011 when it was spun out from Instituto Valenciano de Infertilidad (IVI). Today it is one of the world’s leading providers of advanced services in reproductive genetics, operating from eight laboratories worldwide. Its constant efforts in R&D, led by Prof. Dr. Carlos Simón (the 2011 Jaime I award-winner for Clinical Research), enable Igenomix to create and develop specific tools to support professionals in the reproductive medicine field. Specialist services offered include PGS (Pre-Implantation Genetic Screening), NACE (Non-invasive Prenatal Test); CGT (Carrier Genetic Test); PGD (Preimplantation Genetic Diagnosis) and ERA (Endometrial Receptivity Array).