Oxford biotech Genomics has raised £25m from investors and announced a collaboration with US pharmaceuticals giant Vertex that might eventually be worth tens of millions of pounds for the small UK genetics company. Investors in this latest round of funding, which brings the total raised by the company so far to £36m, include Woodford Investment Management, IP Group, Invesco Perpetual, Oxford Sciences Innovation and Vertex Pharmaceuticals, which invested £10.5m. Genomics was founded in 2014 by four of the country’s leading geneticists to find a way to use genetic information to improve drug development. The company's algorithms process and analyse billions of sets of human genetic data collected from research studies around the world. The idea is that this tool gives scientists the ability to look at individuals from this database who happen to carry genetic characteristics which affect the same part of their biology as a drug, to really understand how the drug might affect the body.
UK pharmaceuticals firm Vertex is among the latest investors in Oxford biotech Genomics, helping raise £25m ($32m) and forming a collaboration that could lead to the further development of the genetics company. Founded in 2014, by four of the US's leading geneticists with the aim of using genetic information to improve drug development, Genomics utilises human genetic data collected from worldwide research studies to develop an improved method of understanding how human biology is affected by different drugs. Genomics’ CEO Professor Peter Donnelly said the firm is already engaged in discussions with pharmaceutical companies looking to follow Vertex.