NEW YORK (GenomeWeb News) – Fertility testing firm Celmatix today announced it has secured $1.5 million in additional financing to go toward the expansion of its operations and accelerate a product launch.
The round was led by Topspin Partners. Other investors including Peter Kellner of Richmond Global, Mark Gerson, founder of Gerson Lehrman Group, and Kal Vepuri, founder of the Trisiras Group, also participated.
The funds were raised following encouraging early results from Celmatix's genomic and data analytic research pipelines, the company said. It is collaborating with fertility clinics around the US to research genetic and phenotypic biomarkers of female fertility "and drivers of treatment success with different assisted reproductive technology," such as in vitro fertilization, it said.
Laura Towart Bandak, founder and CEO of Celmatix, said the financing will allow the company to expand its R&D work and hire new employees.
Celmatix today also announced it has hired Michael Elashoff as its VP of Biostatistics. Elashoff was formerly with CardioDx.
Based in New York, Celmatix was founded in 2009 and develops diagnostic tools to improve reproductive health outcomes for female infertility.