Natera, Inc., Non-Invasive Genetic Testing Leader, Secures $55 Million in Private Financing
-- Funding to Expand Global Sales and Marketing, and Support Research and Development for Existing Products and Cancer Monitoring --
SAN CARLOS, Calif., April 6, 2015 /PRNewswire/ -- Natera, Inc., a leader in non-invasive genetic testing, today announced that it has raised approximately $55.5 million in funding led by Silicon Valley life sciences investment firm Sofinnova Ventures. This financing round also includes participation from Capital Research and Management, Franklin Templeton Investments, Jennison Associates, RA Capital Management, Healthcor Partners and OrbiMed Advisors.
"We are very pleased to have led Natera's latest round of financing among a distinguished group of crossover investors," said James Healy, MD, PhD, general partner, Sofinnova. "Non-invasive genetic testing has experienced substantial growth over the past few years and Natera has emerged as one of the leading companies, with innovative technologies and a strong commercial base. We look forward to working with Natera's management team and investor group to continue to build the company's market position." Dr. Healy has joined Natera's Board of Directors in conjunction with the investment.
The infusion of fresh capital will be used to expand Natera's worldwide sales and marketing capability, and to invest in research and development. Research priorities include continuous innovation on existing products such as Panorama, development of non-invasive cell free DNA-based tests for early detection and therapeutic monitoring in cancer, and clinical trials to demonstrate test effectiveness and utility in clinical practice.
"This investment is a significant endorsement of our cloud-based bioinformatics and molecular technologies, and our deep R&D pipeline. We are proud to continue working with the leading healthcare and life sciences investors in the world, including Sofinnova, and together to pursue our vision of delivering accurate and timely genetic information to patients and physicians worldwide," said Matthew Rabinowitz, PhD, chief executive officer of Natera.
About Sofinnova Ventures
Sofinnova Ventures has over 40 years of experience building life science companies into market leaders. With $1.8 billion in committed capital, the firm applies capital and expertise to take companies from inception to exit. Sofinnova's investment team of MDs, PhDs and seasoned executives has significant scientific, operational and strategic experience, and specializes in financing clinical therapeutics. Our team partners with entrepreneurs to build successful companies, advance medicine and address patients' unmet medical needs. Sofinnova is headquartered in Menlo Park, CA with offices in La Jolla, CA. For more information, visit www.sofinnova.com.
About Natera
Natera is a genetic testing company that develops and commercializes non-invasive methods for analyzing DNA. The mission of the company is to help families diagnose and manage genetic disease. In pursuit of that mission, Natera operates a CAP-accredited laboratory
certified under the Clinical Laboratory Improvement Amendments (CLIA) in San Carlos, Calif., currently offering a host of preconception and prenatal genetic testing services primarily to OBGYN physicians and in-vitro fertilization centers. In 2013, the company launched Panorama™, a safe, simple test for pregnant women that screens for the most common chromosomal anomalies in a fetus as early as nine weeks of gestation. Tests developed by Natera have not been cleared or approved by the U.S. Food and Drug Administration (FDA). www.natera.com.
Contacts:
Natera, Inc.
Meg Miller McKenna
Vice President, Finance
650-249-9091 x 440
[email protected]
Michael Hromadik
Public Relations
858-442-2215
[email protected]
Sofinnova Ventures
Jennifer James
Partner – Investor Relations and Marketing
(650) 681-8429
[email protected]
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SOURCE Natera, Inc.
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