Life sciences research company Laboratory Corporation of America (LabCorp) is leading a $40m series C round for prenatal diagnostics technology developer Sera Prognostics as part of a strategic collaboration agreement.
Founded in 2008, Sera is developing a blood testing system called PreTRM that will be able to predict birth risks from 19 weeks of pregnancy onwards by analysing proteins in the blood. The agreement, announced on Tuesday, means LabCorp will be the exclusive distributor of PreTRM in the US.
The series C round, which included undisclosed existing backers, will support Sera’s gathering of clinical evidence that will support decisions regarding reimbursement and insurance coverage for the test.
David P. King, chairman and chief executive of LabCorp, said: “Sera’s PreTRM test is a unique offering and one that has the potential to change the way prematurity is identified and treated today.
“The collaboration with Sera expands our ability to provide patients and physicians with one source for the most complete range of testing options in women’s health, in support of our mission to improve health and improve lives.”
Sera had previously raised approximately $58m in debt and equity according to press releases and securities filings, including $25m in series B funding in early 2015 from Bill & Melinda Gates Foundation, Chione, Domain Associates, InterWest Partners, Catalyst Health Ventures, UpStart Life Sciences Capital and Osage University Partners.
– Photo courtesy of Sera Prognostics