Cambridge-based Eagle Genomics, a TechBio platform business applying network science to biology, announced on Monday, October 31, that it has secured $20M (approximately €20M) in the first close of its scale-up funding round.
The round was led by abrdn plc, with participation from existing investor Environmental Technologies Fund and a consortium of investors headed by Granpool Innovative Investments.
The current round will remain open for a further period to enable additional participation of up to another $10M, says the company.
Eagle Genomics says it will use the funds to accelerate the development of its AI-augmented knowledge discovery platform, e[datascientist], and to continue to drive expansion into global markets and the deepening of client impact.
Anthony Finbow, CEO of Eagle Genomics, says, “We are the pre-eminent platform business using next-generation graph technology and network science to drive the Bioeconomy. We are seeking to support our enterprise customers as they strive to achieve more sustainable and impact-orientated innovation outcomes. The current scale-up funding will enable us to accelerate the Bioeconomy through the digital reinvention of science.”
Eagle Genomics: What you need to know
Led by Anthony Finbow, Eagle Genomics has developed an AI-augmented knowledge discovery platform, e[datascientist], to empower scientists to exploit multi-dimensional data in minutes rather than months, thereby helping companies conduct science-led innovation for next-generation products.
The company says the platform supports the entire innovation workflow – from hypothesis through insight to product claims – helping bring novel, safer and sustainable products to market across various industries like the Food and Nutrition, Beauty and Personal Care, AgBio, and BioPharma industries.
The UK company aims to accelerate the bioeconomy through the digital reinvention of life sciences R&D.
The company is also increasingly focussed on supporting its customers’ aspirations as they address ‘One Health’ challenges.
According to Eagle Genomics, the concept of ‘One Health’ recognises that the health of humans, animals, and the environment are intimately interconnected and that applying technologies to solve problems in one domain can inspire and enable advances in others.
Addressing the ‘One Health’ opportunity requires a focus on and a deep understanding of the microbiome and host-microbiome interactions as the common denominator across these domains, says the company.
Alistair Watson, Head of Strategy Innovation – Private Equity at abrdn, says, “We believe that Eagle Genomics is poised to support increasing numbers of large enterprise customers with digitising R&D and product innovation activities. This investment will support Eagle Genomics’ scale-up while driving further penetration into global markets. It is also pivotal for the wider Bioeconomy, as the importance of microbiome science increases and its applications become more widespread.”
Rob Genieser of Environmental Technologies Fund says, “We are delighted to see Eagle Genomics continue to mature and scale. The timing could not be better, with the world’s focus on disease and accelerated in silico innovation. At a time when there is an urgent requirement for systems change to support and protect the Biosphere, Eagle Genomics is helping drive sustainability and impact-focused business outcomes. We wish the team all the best in expanding its reach and deepening its capabilities.”