Impact Lab Group acquires 100% of HeartGenetics

Milan/Lisbon, 17 November 2020:  ImpactLab announced today it has entered into a definitive agreement under which it acquired the entire share capital of HeartGenetics - Genetics and Biotechnology, S.A.

ImpactLab aims at building-up an international network of genetic services, covering most medical specialties, laboratory technologies and bioinformatics know-how, with the final goal of becoming an international leader in all major genetic markets.

With this transaction, ImpactLab will be able to expand the reach of its test panels by including the Pharmacogenetics, Cardiovascular and Wellness tests successfully developed by HeartGenetics. In addition, being part of ImpactLab will allow HeartGenetics’ expansion in the B2B and broaden the online business in Spain, Portugal and South America.

"HeartGenetics proved to have the skills to develop new genetic tests and software taking into consideration the whole research and development process (gene and variant selection, disease risk models, machine learning based reports and product information materials). These skills will be crucial for the future development of affordable genetic testing and will be instrumental in the development of new tests for the preventive medicine market”, stated Vittorio Grazioli, MD, Group CEO of ImpactLab.

Ana Teresa Freitas, CEO and co-founder of HeartGenetics, will continue to serve as CEO of the company and will support the development of the Company and its integration with the ImpactLab group. HeartGenetics will keep its own brand and will continue to serve its clients in Portugal, Brazil, Netherlands and Spain. The company will also have the opportunity to start sales in Italy.

"In 2013, we had the vision of creating a company that could use genetic data and computational tools to improve health for everybody. The acquisition of HeartGenetics by ImpactLab is an amazing and unique opportunity to build upon that vision, enhance our digital and bioinformatics capabilities, and deepen our roots in the personalized medicine field. For a startup in the diagnosis field, this acquisition represents a major achievement for the healthcare Portuguese startup ecosystem” stated Ana Teresa Freitas, CEO of HeartGenetics.

"As HeartGenetics’ main shareholder and supporter from day one, we’re proud of the achievements of Ana Teresa Freitas and her team, in terms of technology and products, which were critical for this agreement with ImpactLab” added Duarte Mineiro, Partner at Armilar Venture Partners.

About ImpactLab Group: ImpactLab has performed several acquisitions since its foundation on 2015, becoming the largest genetic laboratory provider in Italy in oncology and pre-/post-natal genetic testing. ImpactLab is commited to adopt the best options biotechnology and bioinformatics can offer to deliver for the patient a tailored approach to prediction, prevention and treatment. ImpactLab is currently expanding its international footprint by establishing local laboratory branches and has planned further acquisitions within the next year.

About HeartGenetics: HeartGenetics is a digital health and genetic testing company, spin-off of Instituto Superior Técnico in Lisbon Portugal, founded in 2013. Machine learning methods and data analytics are the heart and mind of the company’s own certified CE-IVD HEARTDECODE system for automatic reporting. The company has a deep knowledge on the development of actionable and cost-effective genetic tests with highly scalable applications in well-being, cardiovascular genetics and pharmacogenetics.

About Armilar Venture Partners: Armilar Venture Partners is Portugal’s leading venture capital funds manager. An independent VC with a 20-year-old history, a high-performance track record and an international footprint, Armilar is a deep-tech investor, investing in ICT, HealthTech and CleanTech with a focus on early-stage technology-based companies. Currently, Armilar has a total of about €260 million under management, with five funds deployed typically as lead investor in seed to early-stage deals in companies in Portugal, Europe and the USA. To find out more and to register for news, please go to www.armilar.com.

For more information:

Ana Teresa Freitas, HeartGenetics CEO: atf@heartgenetics.com +351 914 554 869

Michael Bretterbauer, Business Development Manager: michael.bretterbauer@impactlab.it +39 3441427541

Duarte Mineiro, Partner: dmineiro@armilar.com +351 936 366 636