MuscleGenes Ltd secures a Series-A investment lead by a global investment syndicate

MuscleGenes gets a Series-A investment

It’s with great pleasure that we can announce MuscleGenes Ltd has secured a financial investment in a Series-A funding round, which will lead the company into the next level of growth and development.

MuscleGenes was founded out of an idea in October 2011 where Dr. Stuart Grice (CSO) and I had a very random conversation at our best friend Kieran McSweeney’s wedding. Dr. Stuart and partner Dr. Samantha Decombel (COO), had recently discovered a couple of very interesting gene mutations that had a relationship with sports performance. I asked Stuart the question: if we knew people’s sports genes, could we design training programmes based on this information. Stuart felt the idea had merit, so Stuart, Sam, Mark Gilbert, and I all set to work. June 2013 we launched MuscleGenes, and we are absolutely delighted to where the product is today!

In November 2013, we brought another member of the team onboard, Bernie Sumption. Bernie’s background added a number of skills to the team that we simply didn’t have, and advanced the way we considered the direction the research and development for the product needed to take.

As with any startup, there comes that point in time where an investment really opens up doors to some serious levels of research, development, and growth, and we were at that stage early 2014, where it became an obvious next step. We had a number of offers of investment—some very significant offers in fact—but we opted to follow our hearts somewhat, so listen to this for a story!

Late January 2014, Bernie Sumption was at a beer festival in Belgium. Bernie was telling one of his friends about MuscleGenes, the company he was now the CTO of. Unbeknown to Bernie, there was a gentleman, a scientist in fact, stood behind him, who was also a very keen investor. He tapped Bernie on the shoulder, and started asking him a few questions about MuscleGenes. To cut a very long story short, less than 24 hours later, I had an email from a UK-based investor, who wanted to meet with me to discuss the investment opportunities with MuscleGenes, as this scientist had told him they needed to be involved, and the rest, as they say, is history!

Through a syndicate of three global investors, we were able to raise a Series-A investment, which is set to take MuscleGenes to the next level! We have appointed a number of new team members, including a director of marketing, a non-executive director who has also joined the board, and have been building out the company staffing including new laboratory technicians, a financial manager, a personal assistant to Dr. Samantha and I, and we have set up an entire research team lead by Dr. Stuart and Mark with some incredible work already being incubated.

We are about to commence a three-month project building a brand new MuscleGenes genetics testing laboratory as we have outgrown our current facility, which is set to start testing August 2014, and is based in Oxford, UK.

As for me, I formally retired from clinical practice in March 2014 to take on the absolute full-time role of global CEO of MuscleGenes, and it’s a role I intend on surpassing on all levels!

It’s a cliché to say ‘watch this space’, but we are excited by what’s about to happen, and we hope you will be also!

Written by Dr. Dan Reardon

Wednesday, April 2, 2014