SynapDx Corporation, a US-based healthcare company which provides laboratory diagnostic services for autism and neurodevelopmental disorders, has secured $15.4m funding led by Google Ventures. Foundation Medical Partners, a healthcare technology venture capital firm, which has a strategic limited partnership relationship with Cleveland Clinic, joined the financing as a new investor. Founding investors, venture capital firms North Bridge Venture Partners and General Catalyst Partners, also participated.
Previously, in March 2013, SynapDx secured an undisclosed but “significant” investment from The Kraft Group, a family-controlled investment group. SynapDx raised a $6m series B round of financing from North Bridge Venture Partners and General Catalyst Partners in December 2012, and a $2m strategic investment from diagnostic technology company Laboratory Corporation of America Holdings (LabCorp) in February 2012. In June 2010, SynapDx raised $9m in its A round from North Bridge Venture Partners, General Catalyst Partners and also from Bain Capital Ventures. SynapDx has a strategic partnership with next-generation sequencing company Illumina.
Andrew Conrad of Google, who has joined SynapDx’s board of directors, said: “The best diagnostic tests of our era will be developed at the nexus of advanced genomics and cutting edge informatics. SynapDx stands to revolutionize the autism field while building the pediatric genomics company. Given my prior involvement on Autism Speaks’ board, I am well aware of the need for better diagnostics to help clinicians and families get children identified as quickly as possible.”
Conrad is former chief scientific officer of LabCorp, which invested in SynapDx in February 2012.
Krishna Yeshwant, general partner at Google Ventures, said: “SynapDx’s use of advanced technologies and multiple analytes to generate the most informative blood test possible is a great example of the type of industry-altering innovation we look for at Google Ventures.”
SynapDx was founded in 2010.