Thursday, February 19, 2015

Lineagen Lands $19.8M For Molecular Diagnostics Effort

Salt Lake City-based Lineagen has raised $15.8M in a Series C funding, the company said Wednesday, with a final tranche of $12.17M in the round. The funding of the final tranche was led by HealthQuest Capital, and also included Petra Capital Partners and Mountain Group Partners. Earlier investors in the round include Sanderling Ventures, Signal Peak Ventures, PrairieGold Venture Partners, Mesa Verde Venture Partners, Archipel Capital, University Venture Fund, and KickStart Ventures. Dr. David Kabakoff and David Fitzgerald of Petra Capital have joined the company's board with the funding. In addition to the equity, Lineagen said it received $4M in a secured debt facility from Silicon Valley Bank. Lineagen's molecular diagnostics are aimed at helping to detect pediatric developmental disorders like autism. More information »