Consumer epigenetics company Chronomics secures £1.12m in seed funding
Chronomics, the world’s first consumer epigenetics testing company, has secured £1.12million in seed funding.
The Cambridge start-up has won the backing of venture investment firm Anthemis and follow-on funding from early-stage biotech investor SOSV.
It has also secured funding from angel investors, including Laurence Garrett, senior partner with Highland Europe.
Established in December 2017 by Cambridge graduates, Chronomics has released an epigenetic testing kit that enables consumers to receive personalised insights into their health
By analysing saliva samples returned by customers, Chronomics can probe the impact of lifestyle and environmental factors revealing, for example, their biological age, metabolic status and the impact of smoke exposure on the body.
The cost of the service is £70 per month or £800 for a year. Individuals can pay for the service or companies can provide it as a service for employees.
CEO and founder Dr Tom Stubbs said: “Reaching £1.12million in seed funding is a momentous milestone for Chronomics, having just launched the company last year. “Receiving the support of prominent backers reflects their confidence in our company and our vision of a future of personalised and proactive health management.”
Anthemis’ Vica Manos said: “Physical health and mental wellbeing are crucial pieces to the puzzle of an individual's financial wellness
“The team is combining a brand-new data source and cutting-edge science to help consumers make better, more informed decisions about their lifestyle, which is really exciting.
“We are delighted to support the Chronomics team as they gear up for the next phase of their journey.”
SOSV initially invested in Chronomics through the RebelBio programme, after reviewing 350 companies, and then provided follow-on investment.
Bill Liao, venture partner with SOSV, said: “We have always been interested in the DNA testing space, and Chronomics is the first company that we have discovered that radically departs from the ‘once-in-a-lifetime’ test business model, to a subscription.
“It actually shows how your epigenome changes over time, why that matters and what to do about it! What's more, it's in an area completely untapped in terms of consumer access.”
Laurence Garrett was previously on the board of BlueGnome., a pioneer in gene testing to improve IVF success rates, and has experience as a private investor in AI and deep tech companies, including Cambridge-based success stories Speechmatics and FeatureSpace.
He said: “The Chronomics team are academically exceptional. The company has responded to an increased desire amongst people to improve the quality of their lives through sound scientific data about their epigenetic profile. I am grateful to Tom and the team for allowing me to become an investor in their business.”
Dr Stubbs is one of three founders who completed their PhDs at the University of Cambridge. He and Daniel Herranz - the chief scientific officer - worked on epigenetics research,while Toby Call is a biochemist. They have been joined by Charles Ball as chief operating officer, who has a sales and marketing background.
They have been joined by chief technology officer Rob Thompson, who worked as a full stack developer for Yahoo and Saatchi & Saatchi for more than 10 years.