Sera Prognostics Secures $36 Million Series D Funding to Advance PreTRM Test for Preterm Birth Risk Assessment

On November 14, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that health diagnostics company Sera Prognostics (“Sera”) announced the completion of a $36 million Series D financing round. The round was led by Blue Ox Healthcare Partners, with participation from Domain Associates, InterWest Partners, LabCorp, Catalyst Health Ventures, and Chione.

Sera will use the funds from this financing round to further develop and test its preterm birth risk assessment technology, PreTRM®, and collaborate with healthcare providers to create personalized health plans for patients.

It is reported that Sera had previously completed 10 rounds of financing, raising a total of $114 million. Notably, the company closed its $20 million Series B round in January 2015 and its $22 million Series C round in January 2017.

Sera, founded in 2008 and headquartered in Salt Lake City, Utah, USA, is a health diagnostics company specializing in obstetrics and gynecology. The company is dedicated to providing personalized prenatal care services to improve the well-being of women and infants while reducing healthcare costs. Sera is developing innovative blood-based diagnostic technologies focused on the early prediction of preterm birth, preeclampsia, and other pregnancy complications. The American Journal of Obstetrics and Gynecology has recognized Sera as an authority in preterm birth risk assessment.

Leveraging its extensive experience in clinical development and the diagnosis of obstetric conditions, Sera has developed the PreTRM test. This technology assesses specific proteins in maternal blood through biomarker measurement and analysis, thereby providing a personalized and accurate evaluation of the risk of preterm birth. The PreTRM test assists physicians in promptly formulating proactive intervention strategies to prolong pregnancy in at-risk individuals and improve infant health outcomes. Currently, it is the only clinically validated and commercially approved test for assessing preterm birth risk.

According to the March of Dimes, 15 million babies worldwide are affected by preterm birth each year, with approximately 1 million preterm infants dying as a result. In the United States, about one in ten of the nearly 4 million newborns born annually is preterm. Preterm birth is defined as delivery before 37 weeks of gestation and can lead to severe complications such as cerebral palsy, chronic respiratory diseases, and learning and intellectual disabilities, making it a leading cause of disability and death among newborns.

Gregory C. Critchfield, CEO of Sera Prognostics, stated, “Preterm infants are associated with high mortality rates and substantial healthcare costs; in the United States alone, these conditions result in $30 billion in excess medical expenditures annually. Sera’s PreTRM test can improve the quality of life for pregnant women and newborns while reducing the treatment costs of obstetric complications. We are pleased to have secured support from healthcare investors such as Blue Ox Health. This financing will help us expand our market presence.”

Charles D. Kennedy, Managing Partner at Blue Ox, stated, “Sera’s leading-edge technology reflects the trend toward personalized healthcare. Moreover, PreTRM is the only technology on the market that assesses the risk of preterm birth through a blood test, making it critically important for prenatal care. We are delighted to support Sera at this pivotal moment to help drive its revenue growth.”

Blue Ox, headquartered in New York, USA, is a private equity firm. The company is dedicated to providing financial support to growth-stage healthcare enterprises and driving the healthcare industry’s transformation toward personalized care.

Domain Associates, founded in 1985 and headquartered in New Jersey, USA, is a venture capital and private equity firm. The company’s three primary investment areas are drug development, specialty pharmaceuticals, and medical devices, with additional involvement in biomaterials, biotechnology, and diagnostic technologies. Domain Associates manages $2 billion in assets and maintains an office in San Diego, California.

InterWest Partners, founded in 1979 and headquartered in California, USA, is a venture capital firm primarily focused on the biotechnology sector.

LabCorp, established in 1976 and headquartered in Burlington, North Carolina, USA, is a globally leading publicly traded life sciences company. The company specializes in providing laboratory testing services to healthcare professionals, researchers, medical institutions, and biotechnology enterprises, leveraging novel testing technologies to deliver detailed and accurate information for clinical trials.

Catalyst Health Ventures, founded in 1998, is a venture capital firm based in Massachusetts, United States. The company primarily focuses on the life sciences industry, dedicated to providing therapeutic drugs and innovative treatments for patients with oncology, cardiovascular diseases, and gynecological disorders.

Chione, headquartered in Berlin, Germany, is a venture capital firm that primarily provides financing to companies in the biomedical sector.

(Compiled by Xu Xiaoxue)