SALT LAKE CITY, January 10, 2017– LabCorp Leads $40 Million Series C Financing as Sera Expands its Activities to Address Premature Birth
Sera Prognostics, Inc., a woman’s healthcare company, announced today that it has entered into a strategic collaboration with Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH), a world leading life sciences company, to be the exclusive U.S. distributor of Sera’s PreTRM® test. PreTRM is the first and only clinically-validated blood test that provides an early and individualized prediction of preterm birth risk.
In addition, LabCorp will lead Sera’s $40 million Series C financing. Proceeds from the Series C financing, which includes existing investors, enable Sera to continue building clinical evidence to support reimbursement and insurance coverage decisions, as well as expand commercialization nationwide for the PreTRM test. Sera plans to leverage LabCorp’s market leading position in NIPT, women’s healthcare and reproductive genetics and its nationwide network of 1,750 patient service centers to make PreTRM broadly accessible to physicians and patients concerned about preterm birth risk.
“We are very excited to enter into this collaboration with LabCorp to expand our reach in the maternal fetal medicine community, enabling us to further educate both physicians and patients on the value of knowing the risk, early in pregnancy, of premature birth,” said Gregory C. Critchfield, M.D., M.S., chairman and chief executive officer of Sera Prognostics. “As highlighted by two recent publications, experts state that use of biomarker testing is ‘a dominant strategy’ for addressing the negative impact of prematurity. We are confident that with this financing and collaboration, Sera can realize its vision of improving neonatal health and associated economics in the U.S. and worldwide.”
Sera initiated a targeted launch of PreTRM with limited commercial access in select geographies in 2016 and will expand the test’s availability nationwide in 2017 in partnership with LabCorp.
“Sera’s PreTRM test is a unique offering and one that has the potential to change the way prematurity is identified and treated today,” said David P. King, chairman and chief executive officer of LabCorp. “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.”
“As a market leader in NIPT, women’s health and reproductive genetics, LabCorp brings a significant depth of experience that will help expand the commercialization of PreTRM. Together, we are working toward reducing the social and economic burden of prematurity by more accurately predicting preterm birth risk and providing both physicians and patients the opportunity to intervene earlier to address prematurity risk, with the goal of improving the lives of women and their babies,” said Dr. Critchfield.
About Preterm Birth
According to the March of Dimes, globally preterm birth affects 15 million infants each year, with 1 million deaths occurring from prematurity. Of nearly 4 million babies born annually in the U.S., approximately one in ten is born prematurely. Preterm birth is defined as any birth before 37 weeks gestation, and is the leading cause of illness and death in newborns. Prematurity is associated with a significantly increased risk of major long-term medical complications, including learning disabilities, cerebral palsy, chronic respiratory illness, intellectual disability, seizures, and vision and hearing loss, and can generate significant costs throughout the lives of affected children.
About the PreTRM® Test
The PreTRM® test is the first and only clinically validated blood test that provides an early and individual risk prediction for spontaneous preterm birth in asymptomatic, singleton pregnancies. The PreTRM test measures and analyzes proteins in the blood that are highly predictive of preterm birth. The PreTRM test can help physicians identify early in the pregnancy (as early as 19 weeks of gestation) which women are at increased risk for premature delivery, enabling more informed clinical decisions based on each woman’s individual risk. The PreTRM test enables researchers to better understand the causes of preterm birth and to develop new therapies to improve newborn health.
The PreTRM test is ordered by a medical professional.
For more information about the PreTRM test, please visit www.PreTRM.com and the PreTRM test YouTube Channel. You can also join the conversation on Facebook and @PreTRM.
About Sera Prognostics, Inc.
Sera Prognostics, a women’s health company, develops innovative diagnostic tests focused on the early prediction of preterm birth (PTB) risk and other complications of pregnancy. Sera has launched its PreTRM® test, the first and only clinically validated blood test to accurately predict early in pregnancy the risk of premature birth. The test objectively reports to the physician the risk of premature delivery, enabling earlier proactive interventions designed to prolong gestation and improve neonatal health outcomes. Sera’s technology addresses both the health and economic challenges of PTB. The Company’s strong management team has significant clinical development and women’s healthcare diagnostic experience. Sera is backed by highly respected healthcare investors, including Domain Associates, InterWest Partners, Catalyst Health Ventures, and the Bill & Melinda Gates Foundation. Currently, Sera is working with the Gates Foundation to translate the Company’s discoveries into technologies well suited for low-income countries in its journey to improve maternal and infant health globally. Sera Prognostics is located in Salt Lake City, Utah. For more information, please visit the company’s website at www.seraprognostics.com.
Andrew Sauter, CFO
Sera Prognostics, Inc.
Media Contact for Sera Prognostics:
Continuum Health Communications