TheraGenetics Closes £3M Series A Financing

Pursues Commercialisation of Pharmacogenetic Diagnostic Tests for PatientResponse Prediction in CNS Disorders

11-Jul-2007

TheraGenetics Ltd announced the successful completion of a £3 million Series A venture financing round. Swarraton Partners led the financing with participation from Tudor Capital, IP Venture Fund, IP Group plc's venture capital fund which was raised in partnership with the European Investment Fund, and existing investor IP Group plc. As part of the transaction, Mr. Stephen Brooke, Managing Partner of Swarraton Partners, has joined TheraGenetics' Board of Directors.

TheraGenetics has developed a series of proprietary technologies and methods in the field of personalised medicine, based upon pharmacogenetics. Under the umbrella of the Institute of Psychiatry at King's College London, the founding team translated 15 years of research into the development of the first pharmacogenetic test for response prediction in psychiatry. The company is building on that success and developing a portfolio of additional pharmacogenetic diagnostic tests.

Richard P. Kivel, Chief Executive Officer of TheraGenetics commented, "This venture financing round will be used to expand our Intellectual Property (IP) position and expedite the development of our portfolio of pharmacogenetic diagnostic tests. Our tests will guide doctors in their treatment of patients suffering from CNS disorders such as schizophrenia, Alzheimer's disease, and mood disorders. We are pleased to welcome Mr. Brooke to the Board. He will be instrumental in our future expansion and success."

Mr. Brooke of Swarraton Partners added, "Giving physicians the diagnostic tools to predict patient response to CNS drugs has tremendous value. The era of personalised medicine is quickly approaching and TheraGenetics has the potential to be a leader in the field."

https://www.bionity.com/en/news/66084/theragenetics-closes-3m-series-a-financing.html