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GEN News Highlights : Aug 31, 2010

Lineagen Raises Another $5M to Support Genetic-Testing Service Launch

Funding brings the Series A financing total to $10.8 million.

LineaGen has added $5 million to its Series A round of financing, bringing the total to $10.8 million. The money will support further development of its lead autism testing program and the company’s September commercial service launch.

LineaGen is a provider of diagnostic and healthcare services focused on complex diseases for which individuals’ genetic profiles contribute strongly to their susceptibility. The company’s genetic testing and support/counseling service are initially designed to enable early evaluation of children at risk for disorders of childhood development, including autism spectrum disorders.

Founded in 2002, LineaGen focuses its research on genetic causes and diagnostic pathways, with access to the University of Utah Population Database. It is currently concentrating on three disease areas with a lead program for autism and secondary programs for COPD and multiple sclerosis.

The Series A financing round included new investor PrairieGold Venture Partners in conjunction with strong support from existing investors Sanderling Ventures, vSpring Capital, and Mesa Verde Venture Partners. Mike Jerstad, partner of PrairieGold Venture Partners, will join LineaGen’s board of directors.