Investment Summary
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
“Charme’s resources, industry experience and strategic vision have been a differentiating factor during the company’s period of high growth over the past few years. We would like to thank their team for all their help and we look forward that they will continue to back Igenomix’s continued development as we enter the next phase of our journey.”
David Jimenez, Chief Executive Officer of Igenomix
