Igenomix is a leading global biotechnology company focused on reproductive genetic testing. The business was spun out from one of the world’s largest in-vitro fertilisation (IVF) clinics, the Instituto Valenciano de Infertilidad (IVI), in 2011. It had been run separately, but the growth of the business had been constrained by being captive to the core IVI clinics business
Igenomix, headquartered in Valencia, Spain, uses the most advanced technology to offer pioneering genetic testing services in reproductive medicine. It works closely with IVF clinics around the world to help increase the chances of successful pregnancies and aid medical professionals in delivering healthier babies
Charme acquired Igenomix from IVI in 2016 and since then it has actively worked together with the CEO David Jimenez and the R&D team composed of 25 top class scientists and researchers led by Professor Carlos Simon
Charme invested to help Igenomix accelerate its internationalisation across developed and developing markets; expand its world-leading R&D capabilities that aim to introduce breakthrough innovations in genetics in reproductive medicine; and support the broadening of its scope of genetic testing services, including the launch of innovative new proprietary tests that are now addressing broader women’s health conditions beyond the IVF field
Charme actively worked with the management to expand Igenomix internationally by strengthening its market position in the US and expanding into several new markets such as the UK, Japan, Canada, Argentina, Italy, Turkey, Kuwait, Russia, China, Peru and Lebanon
Today, Igenomix helps patients across the globe from 15 advanced laboratories in 13 different countries and has multiple promising new patents currently undergoing pre-clinical studies
During its ownership period, Charme invested heavily to support the continued development of Igenomix’s world-class R&D function and the formation of joint R&D efforts with leading universities, including Stanford, Harvard and Baylor
In June 2019, Charme sold a majority stake in Igenomix to EQT, the global Private Equity investor. Charme retained a minority stake as well as negotiating an earn-out mechanism to further benefit from Igenomix’s continued growth. The Igenomix investment was awarded Best Large Deal in 2019 by ASCRI (the Spanish PE and VC Association).
During its second stage of ownership, Igenomix has continued to grow rapidly taking advantage of multiple opportunities where Charme has been instrumental thanks to its sector and company knowledge and good relationship with the management team.
Charme continued to help Igenomix accelerate its internationalisation to attractive markets with high potential, most notably in China where Igenomix successfully established operations through the acquisition of a local laboratory. The successful international strategy and execution supported by Charme lead to substantial Revenue and EBITDA growth for the company.
In July 2021, Charme and EQT agreed to sell Igenomix to the Swedish publicly traded reproductive health company Vitrolife, in a cash and stock transaction. The combination of Igenomix and Vitrolife will create a global leader in the reproductive health space.
“Igenomix has been on a fantastic journey with EQT and Charme Capital Partners as owners. We are excited to embark on a new journey together with Vitrolife which will help us to further improve delivery of our mission to provide personalized genetic information to patients globally and further improve clinical practices in infertility, women’s health and rare diseases”.
David Jimenez, Chief Executive Officer of Igenomix