NEW YORK (GenomeWeb News) – Startup genetic screening firm Good Start Genetics today announced it has completed an $18 million Series A financing round.
Proceeds from the round will be used to complete the development and launch of its pre-pregnancy test to screen for a panel of genetic disorders, including those recommended by the American Congress of Obstetricians and Gynecologists and the American College of Medical Genetics.
The round was led by OrbiMed Advisors, Safeguard Scientifics, and SV Life Sciences.
The Boston firm's test uses DNA sequencing technology and is designed to have a higher detection rate and improved clinical performance than current screening methods, such as genotyping and SNP analysis, it said in a statement. Good Start expects to launch its test next year through certified physicians in a clinical setting.
"It is our belief that the only way to make these truly important decisions is under the professional guidance of a physician, who can evaluate genetic information in the context of a patient's comprehensive medical profile," said Don Hardison, whose appointment as Good Start's president and CEO was also announced today. "Our product will allow physicians to select from a broad panel of disorders, and customize their test order to meet the individual screening needs of each prospective patient."
Hardison was previously chief operating officer of Laboratory Corporation of America and CEO of Exact Sciences.
He also serves as a director of Good Start, whose board will be chaired by Marc Beer, former CEO of ViaCell. The other directors are Robert Carpenter, director of Genzyme; Carl Gordon, general partner at OrbiMed; Gary Kurtzman, managing director at Safeguard Scientifics; and Lutz Giebel, managing partner at SV Life Sciences.