It has never been more important to support technical, genetic labs running tests to discover patterns in genetic diseases amongst families and wider society.
This is exactly what biotech Helsinki-based scale-up Blueprint Genetics is doing. By running a leading genetics and bioinformatic’s tests in people with inherited diseases through blood samples, Blueprint Genetics were able to see what diseases a family might have, or are at risk for, and give further clarity and peace of mind to the individuals. To achieve this, they had to get the right financial partners on board.
CEO and co-founder of Blueprint Genetics, Tommi Lehtonen tells us: “We’re extremely proud of the work we have done to date, and we’re so pleased that Bootstrap Europe was able to help us get to this stage and be as supportive as they were before and throughout the acquisition process. I can say with confidence that working with Bootstrap has been a very warm and positive experience, and encourage other entrepreneurs who are doing social good to speak to the team if they need help growing their business. 5% of the world’s population will get some sort of inherited disease, or around 350 million people. Caring for these disorders accounts for approximately 17% of healthcare costs. The impact on the lives of patients and their families is indisputable as we provide the necessary information to start the right treatments as quickly as possible. That’s why I believe in the work we’re doing at Blueprint Genetics”.
The genetic-testing business was keen on the US market and was growing in North America, particularly Canada, as well as Europe when they approached Bootstrap Europe. They needed financing for operations, machinery and strategic R&D and decided to seek out several financial solutions to enable strong investments.
“We had several VCs help finance our growth alongside Bootstrap Europe which enabled us to grow to 170 people and make around €20-€30 million in revenue. We chose Bootstrap Europe because their team is very flexible. Most importantly, they understand the day in the life of an entrepreneur. The team takes a completely different angle than other financiers when viewing the business’s value. They are empathic to a scale-up’s needs.”
The future looks bright for Blueprint Genetics, especially with their recent acquisition by Quest Diagnostics — a global clinical laboratory empowering people to take action over their health outcomes.
“We were always growing strong, and continued to do so, partly because of the support from Bootstrap Europe. We get to help tens of thousands of families with rare diseases.
To find out more about Blueprint Genetics, you can visit the website here.
Bootstrap Europe supports thriving industries across the globe, from green energy and genetic testing to SaaS, fintech and smarter city solutions; the team’s collective experience has ensured that the fund includes some of Europe’s fastest, socially-focused scale-up businesses.
To find out more about how Bootstrap Europe helps scale-up businesses, you can visit our website here.