Cradle Genomics, a San Diego, CA-based creator of a novel prenatal testing methodology, closed a $17.1m Series A funding.
The round was led by Illumina Ventures and Section 32 with participation from Alexandria Real Estate Equities, Sea Lane Ventures, Listwin Ventures, and Axon Ventures.
The company intends to use the funds expand clinical development, corporate infrastructure, CLIA lab operations and launch its product offerings for non-invasive prenatal testing (NIPT).
Founded by Randy Armant, PhD, Sascha Drewlo, PhD, Richard Shippy and Tristan Orpin, with the addition of Jeff Eidel to the executive team, Cradle Genomics provides tests based on the genetic analysis of fetal material that are collected during a first trimester visit with no risk to the mother or developing fetus.
The company, which has additional R&D operations located in Detroit, plans to make advancements in NIPT by leveraging their intellectual property and assay expertise, in combination with their extensive market experience in reproductive health.