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Estonian health technology company Antegenes has raised €2.3 million in funding to expand the use of its genetic tests for personalized cancer prevention in healthcare, evolve the team and scale to new foreign markets.

Funding was received from investors, Enterprise Estonia and the European Institute of Innovation and Technology.

Antegenes’ genetic tests assess the patient’s personal cancer risks and include clinical recommendations for personalized cancer prevention.

“The tests are based on an innovative polygenic risk score technology that helps clarify individual genetic predispositions to cancer. It therefore allows more precise prevention and early detection measures, which are crucial in the fight against cancer. The tests are currently used to determine genetic risk for four cancers: breast cancer, prostate cancer, colon cancer and melanoma,” the company said in a statement.

It raised €1.6 million from investors in a funding round, led by Pipedrive co-founder Timo Rein, Pipedrive first investor Peep Vain, and entrepreneurs Aare Kurist and Andreas Henn Otsmaa. In addition, other Estonian investors and entrepreneurs participated in the round. The financing round was advised by investment bank Keystone Advisers and law firm Sorainen.

Expand the use of personalized cancer prevention

“These investments expand the use of personalized cancer prevention in healthcare, including in new markets. In addition to Estonia and the UK, we have launched operations in Sweden, Norway, Portugal and Spain. In the coming months we will also enter the German market,” said Dr. Peeter Padrik, Founder and CEO of Antegenes, in a statement.

Additionally, the company has received two grants to bring research-intensive innovation to international healthcare. The first is the BRIGHT project, funded to the tune of €2.28 million by EIT Health, including a €500,000 grant. At the center of the project are Antegenes and the AnteBC breast cancer genetic risk test.

The second grant comes from the Norway Grants Green ICT program, which supports business cooperation between Estonia and Norway. The aim of the €200,000 funding is to implement the AnteBC breast cancer genetic risk test as part of routine breast cancer screening in Norway.

Antegenes is an Estonian health technology company and medical laboratory founded in 2018 with the aim of developing and implementing advanced genetic tests based on polygenic risk score technology for the accurate prevention of major complex diseases.