KUALA LUMPUR (June 9): Life sciences-focused investment firm Xeraya Capital Sdn Bhd has participated in a globally-syndicated US$50 million Series C investment in UK-based digital health firm Congenica.
Xeraya Capital, owned by sovereign wealth fund Khazanah Nasional Bhd, participated in the investment in November last year.
In a statement issued to theedgemarkets.com, the firm said the round was co-led by the UK’s Legal & General and China’s Tencent.
This included new investors such as Malaysia’s Xeraya Capital, Oman’s IDO Investments and China’s Puhua Capital, alongside existing investors from the UK, namely Cambridge Innovation Capital, Downing and Parkwalk.
According to Xeraya, Congenica is recognised as a leader in the genomic analysis of rare diseases and inherited cancer. It has established a global customer-base of hospitals, diagnostic laboratories, academic medical centres and pharmaceutical companies.
Xeraya Capital said the new funding is aimed at accelerating international market development and driving further expansion of Congenica’s product platform into somatic cancer and wellness, and through partnerships with pharmaceutical companies.
“We are very pleased to be participating alongside a powerful syndicate of global investors with the expertise and resources to help bring Congenica’s breakthrough genomic tools to bear on the advancement of human health around the world.
“Accelerating rapid diagnosis and initiating personalized treatment using the Congenica platform will ease suffering and save countless lives,” said Xeraya Capital chief executive officer Fares Zahir.
Meanwhile, according to a report by TheCityUK titled "The UK as a leading centre for international sovereign wealth funds", sovereign wealth fund investments in global infrastructure have been growing in recent years.
It added that UK infrastructure is attractive to investors looking for safe assets with good returns, because the UK offers a stable regulatory regime and steady investment returns.
Xeraya Capital is the only active private equity (PE) and venture capital firm in the country that focuses on life sciences investments. The firm manages several funds, including the Malaysian Life Sciences (MLS) Capital Fund II and the Mudharabah Innovation Fund (MIF).
MLS Capital Fund II is co-managed by Xeraya and Spruce Capital Partners. It was launched in 2015 to invest in "biogreentech" companies at all stages of development.
According to the firm’s website, biogreentech spans plant and animal agriculture; food, feed and nutrition; and bio-renewable chemicals and materials. It also includes companies and technologies developed in big data analytics, robotics, production, harvesting and use of natural resources and synthetic biology.