MTIP et al. exit Blueprint Genetics to trade

Blueprint's largest investors include Inventure and Pontos Group, Germany-based Creathor, Switzerland-based MedTech Innovation Partners (MTIP) and California-based Cota Capital. The founders also owned a significant minority stake.

Listed, diagnostic information service Quest Diagnostics acquired Blueprint in an all-cash equity transaction.

Blueprint has increased its focus and presence in the US through a recently established facility in Seattle, Washington.

Blueprint CEO Tommi Lehtonen has agreed to continue to lead the company as vice-president and general manager, reporting to the senior vice-president of advanced diagnostics at Quest.

Previous funding
In 2014, Inventure and Avohoidon Tutkimussäätiö, a Finnish foundation, led a €2m funding round for the company. Co-investment provided by Finnish business angels and Tekes, the Finnish Funding Agency for Innovation, brought the total amount invested to €2.96m.

Pontos Group and Inventure participated in €6m funding round in 2016.

In 2017, Creathor and MedTech co-led a €14m funding round for Blueprint. Existing investors from previous rounds, including Inventure and Pontos, also participated.

Company
Blueprint is a speciality genetic testing company specialising in gene variant interpretation based on next-generation sequencing (NGS) and proprietary bioinformatics. Founded in 2012 and based in Helsinki, the company generated €15.5m in revenues for 2018, and employs 150 people, as of April 2019.

People
Quest Diagnostics – Steve Rusckowski (chairman, president, CEO).

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