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Lineagen Raises $5M, Closes Series A Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Genetic diagnostics development firm Lineagen today announced it has raised $5 million bringing the total for its Series A financing round to $10.8 million.

The company, which raised $5.8 million in the first close of the round in 2007, will use the funds to further develop Lineagen's lead autism program and support its planned commercial service launch in September, it said in a statement.

Participants in the most recent tranche include new investor PrairieGold Venture Partners and existing partners Sanderling Ventures, vSpring Capital, and Mesa Verde Venture Partners.

Mike Jerstad, a partner in PrairieGold, will join the board of Lineagen, which is based in Salt Lake City.

The company is developing genomic tests and services for "complex" diseases, such as autism, multiple sclerosis, and COPD.

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