EMV Capital leads £500,000 fundraising for genetic analysis pioneer DName-iT

EMV Capital (“EMVC”), the VC investor specialising in early-stage high-growth deep tech companies, is delighted to announce that it has led a new £500,000 investment into its portfolio company DName-iT Holdings Limited (“DName-iT”),a pioneering company in the genetic analysis industry and a spin-out from the world leading research institution Katholieke Universiteit Leuven, Belgium.

The investment round was supported by both EMV Capital investor network and the Gemma Frisius Fund, a venture seed capital fund formed jointly by Katholieke Universiteit Leuven, KBC Group, and BNP Paribas. The fundraising includes the conversion of advanced subscription monies and further subscriptions for equity investment, fuelling the continued growth and development of DName-iT.

DName-iT is looking to support the Laboratories industry, which is under increasing pressure to deliver accurate Next Generation Sequencing (“NGS”) testing for eligibility for novel oncology treatments and other critical advances in personalised medicine.

DName-iT has developed an advanced, scalable platform to deliver simple, cost-effective specimen authentication and identify both specimen and reagent contamination issues in laboratory tests using NGS. NGS is used increasingly for neonatal and oncology analyses where mistakes can be critical and pathology providers are under increasing pressure to ensure accuracy. DNames® are a proprietary molecular barcoding system that, when combined with DName-iT’s software tools, can deliver traceability for patients’ blood, saliva and extracted-DNA specimens, alongside insights into the NGS process such as highlighting reagent contamination. This cutting-edge technology positions DName-iT, in the Board’s opinion, as a pioneer in a rapidly growing genetic analysis industry where accurate, reliable and cost effective NGS is becoming central to the delivery of personalised medicine.

The investment is expected to enable DName-iT to accelerate further industry pilots, already started in Europe and planned for the USA, validating its technology and commercial strategy prior to product launch and commercial sales. The funds will also support the expansion of the team to drive future growth, and allow additional investment in the software underpinning DNames®.

Kevin Dean, interim CEO of DName-iT said:

“This injection of capital underscores the confidence placed in DName-iT by both EMV Capital investors and the Gemma Frisius Fund, affirming our potential to support with specimen and process assurance the rapid growth of NGS testing in medicine. This fundraising will amplify our go-to-market efforts by enabling us to further validate our technology, strengthen our team, invest in research and development, and cement supply chain partnerships ready for formal product launch.”

Dr Ilian Iliev, MD of EMV Capital, added:

“EMV Capital has now raised c. £5 million for its portfolio companies since the start of the year, despite the difficult prevailing market conditions.  This success shows our ability to identify and nurture high-potential companies that are poised for success in the rapidly evolving deep tech landscape.  We are delighted that EMV Capital assisted DName-iT, recognising the company’s potential to accelerate the growth of personalised medicine.”

 

About EMV Capital

EMV Capital is an award-winning deep tech VC investor specialising in early stage high-growth companies in the life science, sustainability, and industrials sectors in the UK and internationally.

EMV Capital develops unique investment strategies for each portfolio company, drawing on its EIS fund and extensive network of private investors, family offices, institutions, and corporate VCs. Delivery and successful execution of these investment strategies enables innovative portfolio companies to raise funding to drive transformational growth.

EMV Capital is a wholly owned subsidiary of NetScientific plc (AIM:NSCI), the deep tech and life sciences VC investment group.

EMV Capital has a multi-disciplinary team of specialist investors, portfolio managers, capital raisers, legal, finance, marketing, and support staff.  The company is focused on primary and secondary investments, through debt and/or equity.

https://emvcapital.com/

For enquiries, please contact Belvedere Communications:

John West:          +44 (0)203 008 6866

jwest@belvederepr.com

Llew Angus          +44 (0)203 008 6867

langus@belvederepr.com

Leave a comment


The reCAPTCHA verification period has expired. Please reload the page.

Easysoftonic

Don’t invest unless you’re prepared to lose all the money you invest. This is a high risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.

X