MADRID, Oct. 15, 2020 /PRNewswire/ -- Veritas Intercontinental, a leader in the application of preventive genomic medicine, has completed a new financing of €5 million that strengthens its international expansion and the development of new operational and technological capabilities.
The Series B round has been led by Charme Capital Partners and Amadeus Capital Partners who have supported the company since it was founded in 2018. They are joined in this round by Stemar Capital Partners and Graham Snudden, with other investors that specialize in the healthcare sector.
Veritas Intercontinental focuses on providing access to advanced preventive medicine through Whole Genome Sequencing, which believes will replace all other genetic tests. Its myGenome signature test is the only test that can provide insights to more than 650 diseases and conditions for healthy individuals.
"The renewed support from Charme and Amadeus, together with our new investors, confirms the initial success and great potential of our company," says Javier de Echevarría, CEO and co-Founder of Veritas Intercontinental. "It will allow us to bring the application of whole genome sequencing to millions of people around the world. We are excited to welcome our new partners in this incredible journey."
For Francisco Churtichaga, partner of Charme Capital Partners and President of Veritas Intercontinental, "The renewed commitment to Veritas Intercontinental strengthens our presence in the biotechnology sector and, especially, in genomics aimed at healthy individuals, which will give a definitive boost to preventive and personalized medicine, changing the paradigm of how we understand healthcare management today."
Andrea Traversone, Managing Partner, Amadeus Capital Partners, believes that "The Covid-19 pandemic has brought the importance of genomics to the fore. It offers new solutions to people seeking personalised treatment. Veritas Intercontinental brings together the best of genomics, big data and AI. Their advanced preventive application of whole genome sequencing in healthy individuals is already a worldwide reference."
In the last two years, Veritas Intercontinental has completed the transfer of all its operations from the United States to Europe, consolidating its independent path recently finalized by the opening of a new laboratory in Spain. Veritas Intercontinental has achieved early success through its partnership agreements with some of the world's leading health institutions, such as the Clínica Universidad de Navarra in Spain, the Centro Médico Imbanaco in Colombia, Albert Einstein Hospital – Genomika lab in Brazil, and The 90s Study in the United Kingdom.
Building on its leadership in the application of preventive genomic medicine (myGenome), Veritas has expanded its offering to the field of maternal-fetal medicine (myNewBorn and myPrenatal NIPT), oncology (myCancerRisk) and cardiovascular (myCardio), thus becoming the benchmark in genomics advanced services.
Veritas Intercontinental was created in 2018 by Javier de Echevarría, CEO of Veritas, Dr. Luis Izquierdo (Chief Medical Officer) and Dr. Vincenzo Cirigliano (Chief Technical Officer), as a spin-off of Veritas Genetics, a company founded in 2014 by Prof. George Church, one of the pioneers in personal genomics. Veritas was born with the aim of making genome sequencing and clinical interpretation available to everyone as a tool to prevent diseases and improve health and quality of life. Since its inception, Veritas Intercontinental has led the activity and development of Veritas in Europe, Latin America, the Middle East and Japan.
Charme Capital headquartered in London, Milan and Madrid, manages the Charme Funds, established in 2003 by Luca and Matteo di Montezemolo and backed by a unique combination of institutional and entrepreneurial investors. Total commitments raised since inception have been in excess of €1 billion, with a pan-European investment strategy in companies with a strong potential for growth and international development. The Charme III fund was launched in 2015 with a pan-European investment strategy aimed at the mid-market segment and a wide range of sectors, especially in the United Kingdom, Spain and Italy. It targets fast-growing mid-size companies with valuations between €100 and €500 million, where they partner with shareholders and management teams to fulfill their potential and achieve transformative growth, both organically and through M&A operations. This approach allows companies to strengthen their market positions and, in many cases, expand internationally.
Amadeus Capital Partners is a global technology investor. Since 1997, the firm has raised over $1bn for investment and used it to back over 160 companies. With vast experience and a great network, Amadeus's team of investors and entrepreneurs share a passion for the transformative power of technology. Pioneering businesses we've backed include cyber security vendor ForeScout; Graphcore, innovators in intelligent microprocessors; IVF genetic testing company, Igenomix, IndiaMART, the B2B online marketplace and speech recognition company VocalIQ (acquired by Apple).