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Prenatal Testing Startup Juno Diagnostics Closes $25M Series A Financing Round

NEW YORK – Prenatal genetic testing firm Juno Diagnostics said on Wednesday that it has closed an expanded $25 million Series A financing round.

The round was led by the Perceptive Xontogeny Venture Fund. The company said the funding will be used to support clinical validation studies, product development, and commercialization. Juno said in a statement that it generated "a differentiated product offering" and a "collection of promising clinical data" to support the round.

San Diego-based Juno Diagnostics is developing a noninvasive prenatal test using cell-free DNA that "simplifies sample collection and improves access to high-quality genetic testing results without the high cost, long lead times, and phlebotomy requirements of traditional NIPT," the firm added.

"With a highly experienced and motivated team, JunoDx is positioned to become the cfDNA testing market leader driven by a sea change in reimbursement and democratizing access via technology innovation," said Chris Garabedian, CEO of Xontogeny and manager of the PXV Fund for Perceptive Advisors.

The company's founders previously worked on developing NIPT at Sequenom.