Inivata Completes £39.8m Series B Funding Round led by RT Ventures

Funds will accelerate commercialization of InVisionFirst-Lung Liquid Biopsy test and the development of the InVision® liquid biopsy platform into new indications

Research Triangle Park, NC and Cambridge, UK, March 28, 2019 — Inivata, a leader in liquid biopsy, today announces the completion of a Series B fundraising of $52.6m (£39.8 million).

Existing investors Woodford Patient Capital Trust, IP Group, Cambridge Innovation Capital and Johnson & Johnson Innovation – JJDC all participated in the round alongside new investor RT Ventures. The first close of the financing occurred in August 2018, with the final tranche of the over-subscribed round being received in March 2019, based on strong delivery against corporate milestones.

The funds will be used to advance the US commercial roll-out of the Company’s InVisionFirst™-Lung liquid biopsy test, which recently received coverage determination for US Medicare patients with advanced non-small cell lung cancer (NSCLC), paving the way for the test to be used in routine clinical care. This liquid biopsy test uses a simple blood draw to detect clinically relevant cancer mutations to provide molecular insights relevant to that patient. InVisionFirst-Lung is commercially available in the US.

The Series B financing will also enable the Company to accelerate the development of the InVision® liquid biopsy platform into new indications to drive the future growth of the Company.

Clive Morris, Chief Executive Officer at Inivata, said: “This Series B financing allows us to commercialize our lead product in patients with advanced lung cancer, following our positive reimbursement decision. We also have an exciting portfolio of future products that will be advanced in parallel to maximize the benefits of our industry-leading InVision Liquid Biopsy platform to patients. We are grateful to our existing investors for their continued support and are delighted to welcome RT Ventures to our already strong investor base. With these funds in place, we look forward to continuing our mission to transform the lives of cancer patients through the power of liquid biopsy.”

About Inivata
Inivata is a leader in liquid biopsy. Its InVision® platform unlocks essential genomic information from a simple blood test to transform the care of cancer patients. The Company’s technology is based on pioneering research from the Cancer Research UK Cambridge Institute, University of Cambridge and reinforced by multiple high calibre publications. Its lead product, InVisionFirst™-Lung, is commercially available and provides molecular insights that enable clinicians to make more informed treatment decisions for NSCLC patients. Inivata is partnering with pharmaceutical and biotechnology companies on InVisionFirst™-Lung and its wider platform, which is applicable to a range of cancer types. The Company has a CLIA laboratory in Research Triangle Park, NC and laboratories in Cambridge, UK. For more information, please go to www.inivata.com. Follow us on Twitter @Inivata.

Media Contacts:
Consilium Strategic Communications
Chris Gardner/Angela Gray/Sarah Wilson
inivata@consilium-comms.com +44 (0)20 3709 5700

Karen Chandler-Smith
karen.chandler-smith@inivata.com +44 (0)7900 430235

Investor Contact:
LifeSci Advisors
Bob Yedid
bob@lifesciadvisors.com +1 646-597-6989

Featurespace raises £25 million to drive international growth from Insight Venture Partners

Read more: The Sunday TimesBusiness WeeklyFinextraFStechInsider.

Featurespace, a leading provider of Adaptive Behavioural Analytics for fraud detection and risk management, has raised £25 million ($32.3 million) from a funding round led by Insight Venture Partners, a New York-based global private equity and venture capital firm focused on high-growth investments in the technology sector, and MissionOG, a US-based venture capital firm with significant operational and investment experience across the financial services and payments industries.

The round also included further funding from existing investors including IP Group plc, Highland Europe, TTV Capital, Robert Sansom and Invoke Capital.

The funding will be used to support Featurespace’s international expansion and continued development of the company’s software capabilities. 

The investment will also support the continued distribution of Featurespace’s real-time ARIC™ platform, which uses Adaptive Behavioural Analytics to detect anomalies in individual behaviour for fraud and risk management.

Martina King, Featurespace CEO, commented:

“We have made tremendous progress over the last 15 months since our last fund raising – and this fund raise is the largest to date. The additional funds will enable us to continue rapidly growing the business internationally by focusing on our products, our people and our customers.”

“Working very closely with our customers, we have developed a market-leading product to meet their fraud detection and prevention requirements. We have also significantly strengthened our senior management team and operational infrastructure, and opened an office in Atlanta, Georgia.”

“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the UK, US and Latin America. Equally important, we have become the technology partner of choice to a number of payment processors and merchant acquirers that have embedded our real-time fraud prevention technology in their anti-fraud solutions.”

Jeff Horing, Co-Founder and Managing Director at Insight Venture Partners, commented: 

“We have been following Featurespace’s growth for over two years. Following extensive customer and product due diligence, we were delighted with market feedback around the product and team. We welcome Featurespace into our portfolio and look forward to helping the company drive international growth.”

Gene Lockhart, Chairman and Managing Partner at MissionOG, commented:

“Martina King, David Excell and team have built a dynamic culture that has led to a well-defined and successful market focus. Their efforts are evidenced by strong sales momentum with notable clients in various segments, including multinational banks, payments companies, issuer processors and merchant acquirers.”

“We’re excited to partner with Featurespace and introduce our network and platform to continue to drive value and growth.”