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Color Raises $52M of Planned $80M Financing

NEW YORK (GenomeWeb) – Color Genomics said this week in an SEC filing that it has raised $52 million thus far in a planned $80M funding round.

A company spokesperson added today that the financing is being led by General Catalyst, and also includes Emerson Collective and CRV.

According to Color CEO Othman Laraki, money raised in the round will be used to further invest in developing testing strategies for hereditary conditions, and to further other aspects of preventive medicine — focusing on areas where "the science is clear and the results are actionable."

Color offers a low-cost, 30-gene panel test for hereditary cancers and recently launched a three-gene test for hereditary high cholesterol.

 

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