Tagomics raises £6.7 million for disease diagnostics

Pioneering platform leverages multiple omics and machine learning to discover new markers of disease.

Tagomics, developers of a cutting-edge platform for comprehensive disease insight and diagnosis, announced a £6.7 million ($8.5m) funding round today. This builds on a £1.6m ($2m) pre-seed round led by IQ Capital and Start Codon and including grant funding from Innovate UK.

The investment is set to accelerate Tagomics’ scientific research and product development, with the goal of delivering improvements in the diagnosis and treatment of various diseases, including age-related diseases, rare diseases and cancers.

The investment was led by Calculus Capital, with participation from Illumina Ventures, IQ Capital, Agilent Ventures, Mercia Ventures and the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and is part of the Midlands Engine Investment Fund (MEIF), Meltwind and OMX Ventures.

Longevity.Technology: Tagomics launched in July 2020 as a spin-out from the University of Birmingham, to build upon the pivotal research led by Dr Robert Neely, the company’s Chief Scientific Officer. Tagomics has since developed a pioneering platform which combines omics technologies, including genomics (detecting mutations), epigenomics (studying the chemical tags on the genome), and fragmentomics (the analysis of DNA fragmentation patterns in the blood).

The Tagomics platform integrates the various omics and applies advanced data analysis and machine learning, generating a 360° understanding of human health and disease. It aims to discover new markers of disease and develop strategic partnerships, advancing drug development and therapy selection for patients.

Since the investment, Tagomics has become the first company to occupy the new Illumina Ventures’ Labs space in Cambridge. Illumina Ventures Labs is an early-stage company creation and investment engine with presences in both San Francisco in the US and Cambridge in the UK. Providing capital, sequencing, mentorship and fully equipped genomics labs, the Labs can help accelerate value creation for genomics start-ups, from company formation to Series A financings.

Dr Jack Kennefick, CEO and Co-founder at Tagomics, said the multiomic capabilities of the company’s approach will enable more comprehensive insight into various diseases.

Tagomics raises £6.7 million for disease diagnostics
Dr Jack Kennefick, CEO and Co-founder at Tagomics

“These insights will enable us to develop simpler and more accurate means of diagnosing and treating patients,” he said. “We’re pleased to welcome such an experienced group of investors on board to help us accelerate the development of our platform and support our efforts in expanding the capabilities of genomic medicine.” 

Kennefick told Longevity.Technology Tagomics’ innovative biomarker discovery and diagnostic platform is broadly applicable across a spectrum of diseases.

“With its unique approach to epigenetic profiling at its core, our multiomic platform has applications in understanding and diagnosing cancer, as well as potential applications in other disease indications, including age-related diseases (and biological age tracking), rare diseases, and prenatal screening,” he said.

Tagomics raises £6.7 million for disease diagnostics
The Tagomics executive team: (L-R) Dr Robert Neely (CSO), Dr Jack Kennefick (CEO) andnDr Debora Lucarelli (CTO)

Elizabeth Klein, Investment Director at Calculus, said: “We are delighted to support Tagomics as the company embarks on its next phase of expansion, applying its innovative technology to discover new markers for disease diagnosis and management. We were attracted to the company not only for its novel science, but its exceptional management team led by CEO Dr Jack Kennefick, an inventor on 3 of the company’s patents and recipient of the prestigious Royal Society of Edinburgh’s Enterprise Fellowship. The Chair, Dr Kirk Malloy, has more than 25 years’ experience in growing life science companies, and NED Pascal Bamford, has previously held leadership positions at MonoGen, Epic Sciences, Genomic Health (now Exact Sciences), Ventana-Roche and currently Akoya Biosciences.”

Nick Naclerio, Founding Partner at Illumina Ventures said: “We are excited to welcome Tagomics as the first European participant in our recently launched Illumina Ventures Labs program. We expect that our investment of capital, lab facilities, and sequencing technologies, alongside other syndicate members will accelerate Tagomics’ path to market.  We look forward to seeing the impact of their innovative multiomic approach on both research and clinical applications.”

The current MEIF investment phase, which is supported financially by the European Union, has now completed with the British Business Bank launching the Midlands Engine Investment Fund II at the end of this month (February 2024).

Photographs courtesy of Tagomics