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Financial Strategy, Second Edition by Devendra Kodwani, Martin Upton, Janette Rutterford

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CASE STUDY 7

Sciona: A Venture Capital Case Study

Colin Bond

SCIONA

Sciona is a bio-technology company working in the area of genetic personalisation. This field of work involves creating products and services tailored to an individual's genetic makeup.

Sciona researches and develops DNA screens for common gene variants that affect an individual's response to food, medication and the environment. These genetic screens serve as the basis for providing personalised advice to consumers. They can also help companies to customise personal care and nutrition products.

Sciona's geneticists, molecular biologists and dieticians work with universities and commercial companies to identify sets, or “panels”, of genes that influence vital health areas, such as cardiovascular health, as well as genes that affect certain aspects of performance and well-being.

Sciona has an efficient and scalable ability to collect DNA samples and analyse the DNA for specific gene variants. The resultant information is used to generate personalised advice concerning lifestyle choices and consumer product selection. A key component of Sciona's service is its report-generation engine based on the latest information technology. It converts the scientific data into consumer-friendly reports of great practical value.

THE FUNDING HISTORY

Sciona was initially funded in 2000 by “seed money” totalling £1.5 m, predominantly from a high wealth individual (“angel”) investor together with a number of smaller contributions ...

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