Eagle Genomics, the pioneering TechBio platform business applying network science to biology, today announced the USD 20 million first close of its scale-up funding round. The investment will support further development of the data scientist platform and will continue to drive expansion into global markets and the deepening of client impact.
The round is being led by abrdn plc, with continued participation from existing investors Environmental Technologies Fund, and a consortium of investors headed by Granpool Innovative Investments. The current funding round will remain open for a further period to enable additional participation up to a further USD 10 million.
Eagle Genomics continues to mature and expand as the leading TechBio company pioneering the application of network science to biological discovery and innovation, across the Food and Nutrition, AgBio, Beauty and Personal Care, and Biopharma industries. The e[datascientist] platform enables enterprise customers to trace digital journeys in data, driving transformative innovations, exploiting leading-edge scientific discovery in silico and supporting differentiated product claims.
Eagle Genomics’ purpose is to accelerate the Bioeconomy through the digital reinvention of life sciences R&D, and the Company is increasingly focussed on supporting its customers’ aspirations as they address ‘One Health’ challenges towards more sustainable and impact-oriented innovation and product outcomes. The concept of ‘One Health’ recognises that the health of humans, animals, and the environment are intimately interconnected, and that the application of technologies to solve in one domain can inspire and enable advances in others. Addressing the ‘One Health’ opportunity requires a focus on, and a deep understanding of, microbiome3 and host-microbiome interactions as the common denominator across these domains.
Eagle Genomics is the pre-eminent platform business using next-generation graph technology and network science to drive the Bioeconomy. The business problem that the platform solves for its customers is to network their scientific data to support step-change innovation – e.g., understanding new key bio-active ingredients that could deliver health benefits, or targeting a particular health benefit and working backwards through data to identify key ingredients. The technical challenge that Eagle Genomics is solving is to bridge the ‘translation gap,’ so that scientific knowledge from a range of disparate sources and studies across industries can be applied to deliver robust, scientifically underpinned product claims.
Anthony Finbow, CEO, Eagle Genomics, said: “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.”
Alistair Watson, Head of Strategy Innovation – Private Equity, abrdn, stated: “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, Environmental Technologies Fund, commented: “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.”