SAN DIEGO, July 16, 2019 /PRNewswire/ -- Cradle Genomics, inventors of a novel prenatal testing methodology, today announced the close of a highly successful Series A funding round of $17.1 million with select investors. Illumina Ventures and Section 32 led the investment round with participation from Alexandria Real Estate Equities, Sea Lane Ventures, Listwin Ventures, and Axon Ventures. The funding will be used to support clinical development, corporate infrastructure, CLIA lab operations and the launch of Cradle Genomics' transformational product offerings for non-invasive prenatal testing (NIPT).
"Our mission at Cradle Genomics is to deliver genetic knowledge for life, with a vision of better outcomes for every pregnancy," said Tristan Orpin, CEO of Cradle Genomics. "We're dedicated to the transformation of NIPT by offering the most comprehensive fetal genetic analysis and pregnancy health screening solutions at the earliest stages of pregnancy."
NIPT offerings that are presently available rely on the measurement of trace amounts of circulating cell-free fetal DNA in maternal serum. The relatively low fraction of fetal DNA in maternal blood limits the scope of fetal genetic analysis and the pregnancy stage when testing can be offered. Cradle Genomics' proprietary assay increases the purity of fetal DNA, making testing as early as week 5 of a pregnancy possible, while delivering the most comprehensive content among all NIPT providers for increased clinical utility.
"We are excited to be supporting such an extraordinary team of entrepreneurs," said Nick Naclerio of Illumina Ventures. "We believe that Cradle Genomics is well-positioned to transform non-invasive prenatal testing."
Cell-free DNA testing is the fastest growing market in the history of molecular diagnostics and is currently used in a number of health care settings. Cradle Genomics plans to make transformational advancements in NIPT by leveraging their intellectual property and assay expertise, in combination with their extensive market experience in reproductive health. The team at Cradle Genomics are passionate about improving patient care and enabling global access to the best possible prenatal solutions.
About Cradle Genomics
Cradle Genomics is headquartered in San Diego with additional R&D operations located in Detroit. Cradle tests are based on the genetic analysis of fetal material that are quickly collected during a first trimester visit with no risk to the mother or developing fetus. Cradle Genomics was founded by Randy Armant, PhD, Sascha Drewlo, PhD, Richard Shippy and Tristan Orpin, with the addition of Jeff Eidel to the executive team. For more information, visit www.cradlegenomics.com.
SOURCE Cradle Genomics