Sera Prognostics Seals $19.3M Series A
Womens health company developing diagnostic tests for early prediction of preterm birth and other pregnancy complications, announced the closing of a $19.3M financing led by InterWest, Domain Associates and Catalyst Health Ventures. Also participating in the round are the company's founder, UpStart Life Sciences Capital, and new investor Osage University Partners.
SALT LAKE CITY, UT, Sera Prognostics, Inc., a women's health company developing diagnostic tests for early prediction of preterm birth and other pregnancy complications, today announced the closing of a $19.3 million Series A financing led by venture capital firms InterWest Partners, Domain Associates and Catalyst Health Ventures. Also participating in the round are the company's founder, UpStart Life Sciences Capital, and new investor Osage University Partners. In addition, the company announced the appointment of Gregory C. Critchfield, M.D., former president of Myriad Genetic Laboratories, Inc. and current Chairman of Sera's Board of Directors, to Chief Executive Officer. Doug Fisher, M.D. of InterWest Partners, Kim P. Kamdar, Ph.D. of Domain Associates and Joshua Phillips of Catalyst Health Ventures will also be joining Sera's Board.
Sera will use the proceeds of this financing to complete the company's multi-center Proteomic Assessment of Preterm Risk (PAPR) clinical trial of its preterm birth diagnostic and commercially launch the test with the goal of demonstrating clinical benefit and economic savings under real-world conditions.
Prior to joining Sera's Board last year, Dr. Critchfield was president of Myriad Genetic Laboratories. As head of Myriad's diagnostic company for 12 years, he launched seven novel molecular diagnostic products across a variety of technology platforms and presided over annual diagnostic revenue growth from $2 to $326 million. Dr. Critchfield retired from Myriad in March 2010.
"The value of Sera's proprietary technology has been firmly established in the literature and, with the PAPR clinical trial underway, the company is well positioned to enter the women's health marketplace," said Doug Fisher, M.D., principal, InterWest Partners. "Greg Critchfield's wealth of diagnostics and women's health experience, coupled with his proven leadership, give Sera the strong foundation it needs to succeed."
"More than 80 percent of women who have a preterm birth are not identified using current technologies," said Kim P. Kamdar, Ph.D., partner, Domain Associates. "There is a significant unmet need in women's health care today to reliably and quantitatively assess a woman's individual risk of preterm birth before threatening symptoms arise.
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