Lineagen to Complete $15M Series B Equity Funding Round
Published On January 4, 2011 |
Lineagen, Inc., a Salt Lake City, Utah-based provider of diagnostic and healthcare services focused on autism and other complex diseases, for which effective early diagnosis and intervention can have a significant positive impact, is completing a $15m Series B equity funding round.
Existing investors Sanderling Ventures, vSpring Capital, PrairieGold Venture Partners and Mesa Verde Venture Partners will commit at least $5m to the Series B round, whose funds will be used to expand the company’s commercial franchise, introduce new, proprietary clinical testing services, and deliver physician- and consumer-directed consultative services that have proven successful in the diagnostic healthcare space.
The $10.8m Series A round funded the discovery and development phase of the company.
Founded in 2002 and led by CEO Michael Paul, Ph.D., Lineagen provides comprehensive genetic testing and support/counseling services that are designed to enable early evaluation of children at risk for disorders of childhood development, including Autism Spectrum Disorders (ASD).
In addition to its core research and development, the company has collaborative relationships with preeminent pediatric research institutes including the University of Utah and The Children’s Hospital of Philadelphia.