NEW YORK (GenomeWeb News) – Molecular diagnostics developer VitaPath Genetics has raised $6 million in a private equity financing that was led by MDV-Mohr Davidow Ventures and included an investment from X/Seed Capital.
The company is developing a genetic test for spina bifida, a birth defect that affects the spine and which can be avoided with high doses of folic acid therapy.
The company plans to use the Series A financing to complete the validation of this first assay and to prepare for its commercial launch.
VitaPath Genetics CEO Bruce Cohen said in a statement that the firm's "unique approach to discovery and validation" will enable physicians to "identify and safely remediate mutations that would otherwise impair birth."
"Whereas most medicine is delivered after the fact, VitaPath provides actionable diagnostics to identify and prevent those most at risk from developing a disease or condition," MDV Partner Michael Goldberg added.
As part of the financing, Goldberg and X/Seed's Michael Borrus took seats on the firm's board of directors.