Estonian healthtech Antegenes secures €2.3M for cancer prevention
02 August, 2022, 16:18
The Tartu-based healthtech startup Antegenes has secured €2.3 million for its pioneering genetic tests for personalized cancer prevention. The investment consists of a €1.6 million seed round and two healthcare grants, EU-Startups informs.
- Founded in 2018 by Peeter Padrik, Antegenes’ genetic tests assess personal cancer risks and include clinical recommendations for personalized cancer prevention. These tests are based on innovative polygenic risk score technology, clarifying genetic proneness to breast cancer, prostate cancer, colon cancer, and skin melanoma.
“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. This is why the current investment round is very important for our growth and next steps. We are glad that investors share our vision of the future of healthcare,”Dr. Peeter Padrik, founder and CEO of Antegenes, comments on the investment.
- The €1.6 million seed round was led by Pipedrive co-founder Timo Rein, as well as Pipedrive’s first investor Peep Vain, and entrepreneurs Aare Kurist and Andreas Henn Otsmaa. Several other Estonian entrepreneurs and investors also participated in the funding.
- Antegenes also received two grants as part of the round. The BRIGHT Project, financed by EIT Health, supplied the first €500,000 grant to the healthtech team. The second €200,000 grant came from the Norway Grants Green ICT program, supporting Estonian and Norwegian cooperation.
- Antegenes will use the freshly raised €2.3 million to bring its tests to new markets across Europe.