The Spanish biotechnology company Igenomix, one of the world leaders in developing genetic fertility tests for patients and fertility clinics, has been acquired by the European venture capital firm Charme Capital Partners, in an investment designed to accelerate its internationalization and enhance its R+D capabilities.
The investment was made through the Charme III fund, which reached an agreement to acquire a majority stake in Igenomix for an amount that has not been disclosed by either party. The transaction is awaiting approval by the authorities.
This is the first investment made by the Charme III fund and the first from Charme Capital Partners’ recently opened office in Madrid. Charme III was launched in 2015 with a pan-European strategy and a special focus on the United Kingdom, Spain and Italy. It targets fast-growing companies with a market value of between 100 and 500 million euros.
Igenomix was created in 2011 as a spin-off from the Instituto Valenciano de Infertilidad (Valencian Infertility Institute - IVI), one of the largest and most successful in-vitro fertilization clinics in the world. It offers pioneering services in genetic testing for reproductive medicine, and works with in vitro fertilization clinics all over the world to contribute to improving the chances of successful pregnancies and helping doctors bring healthier babies into the world.
Headquartered in Spain, Igenomix has over one hundred employees in eight highly specialized laboratories, both in Spain (Valencia) and in the United States (New York, Miami and Los Angeles), India (New Delhi), Brazil (Sao Paulo), United Arab Emirates (Dubai) and Mexico (Mexico DF).
Igenomix will retain its existing management team in this new stage, led by David Jimenez as CEO and Dr. Carlos Simon as scientific officer.
Francisco Churtichaga and Tommaso Beolchini, partners in Charme Capital Partners, said: “Igenomix is enjoying accelerated growth of over 50% per annum and will approach 30 million in sales in 2016, so it represented a great opportunity to invest in a leading national champion and contribute to its global expansion. Igenomix also has a world-class management team and unique proprietary know-how, so we hope to be able to help the company deliver on its excellent growth potential in new markets such as China and Russia, among others”.
Last updated: 13|09|2016