Facilitating genetic tests for personalised cancer prevention, Estonian health technology company Antegenes has raised €2.3 million in funding. The investments will help bring personalised cancer prevention into wider use, including in new markets. In addition to Estonia and the U.K., the company has now started operations in Sweden, Norway, Portugal and Spain. In the coming months, it will also enter the German market.
The funding was backed by Enterprise Estonia and the European Institute of Innovation and Technology. The company also raised €1.6 million in this seed round, led by Pipedrive co-founder Timo Rein, Pipedrive’s first investor Peep Vain and entrepreneurs Aare Kurist and Andreas Henn Otsmaa.
Founded in 2018, the health tech startup aims to develop and implement advanced genetic tests based on polygenic risk scores technology for precision prevention of major complex diseases. Antegenes’ novel genetic tests assess patient’s personal cancer risks and include clinical recommendations for further personalised cancer prevention.
According to the company, tests are based on polygenic risk score technology which helps to clarify individual’s genetic predispositions to cancer. This in turn allows more accurate prevention and early detection measures. The tests are currently used to determine the genetic risk to four cancers, including breast cancer, prostate cancer, colon cancer, and skin melanoma.
Dr. Peeter Padrik, founder and CEO of Antegenes said: “To reduce cancer deaths, the genetic predisposition of cancer should be analysed for all people, and our vision is to implement this internationally with our partners. The current investment is important for our growth and next steps.”