Cambridge Epigenetix

About Cambridge Epigenetix

Originally founded as Cambridge Epigenetix (CEGX) in 2012 and rebranded to biomodal in 2023, the company is a life sciences tools and technology firm revolutionizing genome sequencing. The business was established by Professor Sir Shankar Balasubramanian, a co-inventor of the market-dominant Solexa-Illumina sequencing-by-synthesis methodology, and Dr. Bobby Yerramilli-Rao. Building on his foundational work in genomics, Professor Balasubramanian started the company to unlock a new layer of biological information encoded in DNA.

biomodal's core business is developing and commercializing kits and software that enhance existing next-generation sequencing (NGS) platforms. Its products, such as the 'duet' family, enable a multi-omic analysis that simultaneously reads both the four genetic bases (A, T, C, G) and key epigenetic modifications, such as 5-methylcytosine (5mC) and 5-hydroxymethylcytosine (5hmC), in a single workflow. This integrated approach provides a more comprehensive view of biology from a single, often limited, DNA sample, which is a significant advance over previous methods that could not accurately distinguish between these crucial epigenetic markers. The technology is designed to work with all sequencers, enhancing their accuracy and capabilities without replacing them.

The company operates in the life sciences research, diagnostics, and pharmaceutical discovery markets. Its client base includes genomic research institutions, clinical developers, and biopharma companies focused on areas like oncology, neurodegenerative diseases, and ageing. A primary application of its technology is in the field of liquid biopsy for the early detection and monitoring of cancer. The business model involves the direct sale of its product kits and software, as well as partnerships with pharmaceutical firms for biomarker discovery programs.

The company has achieved significant financial backing, including a $21 million Series B round in 2016 led by GV (formerly Google Ventures), a $30 million Series C in 2018, and an $88 million Series D round in 2021 led by Temasek, bringing its total funds raised to over $146 million. In 2022, Peter Fromen, a veteran from PacBio and Illumina, was appointed CEO to lead the company through its commercial growth phase.