Cradle Genomics Secures $17 Million Series A Funding to Advance Non-Invasive Prenatal Testing Technologies

On July 17, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Cradle Genomics (“Cradle”), a leading genomics company, announced the completion of a $17 million Series A financing round. The round was led by Illumina Ventures (“Illumina”) and Section 32, with participation from Alexandria Real Estate Equities (“Alexandria”), Sea Lane Ventures, Listwin Ventures, and Axon Ventures.

Cradle will use the funds from this financing round to operate its CLIA-certified laboratory for clinical testing and enhance corporate infrastructure. Additionally, the company plans to develop new products based on non-invasive prenatal testing (NIPT) technology.

Since fetal cells are present in maternal peripheral blood, NIPT requires only a venous blood sample from the pregnant woman and is non-invasive to the fetus. This technology employs next-generation DNA sequencing to sequence cell-free DNA fragments (including cell-free fetal DNA) in maternal venous blood, followed by bioinformatic analysis of the sequencing results to obtain fetal genetic information and detect whether the fetus is affected by the three major chromosomal disorders.

Cradle, headquartered in San Diego, USA, with a research and development facility in Detroit, is a startup founded by former Illumina executives Richard Shippy and Tristan Orpin in collaboration with the Detroit Reproductive Biology Team. The company is dedicated to fetal genetic testing and prenatal health screening, leveraging non-invasive prenatal testing (NIPT) to conduct comprehensive genetic analysis during early pregnancy and provide medical solutions. Clinical trials have demonstrated that collecting genetic data during early pregnancy poses no harm to either the mother or the fetus.

NIPT products are primarily used to detect cell-free fetal DNA in maternal serum, and the scope of their genetic analysis is often limited by the low concentration of fetal DNA. In contrast, Cradle’s patented technology in the field of reproductive health can enhance the purity of fetal DNA and generate analytical reports as early as the fifth week of pregnancy. Cradle stated, “The fetal genetic testing and genetic analysis data we provide will be the most comprehensive among all NIPT providers.”

NIPT is the fastest-growing technology in molecular diagnostics, with applications across a wide range of medical products. Cradle plans to combine its patented technologies with its market expertise in reproductive health to accelerate the transformation of its NIPT product portfolio.

Tristan Orpin, CEO of Cradle, stated, “Cradle’s mission is to provide high-quality services to every pregnant woman and safeguard the health of new lives. We are dedicated to transforming non-invasive prenatal testing (NIPT) by enabling fetal genetic analysis and pregnancy health screening in the early stages of gestation.”

Illumina’s Nick Naclerio stated, “We are delighted to support an exceptional entrepreneurial team like Cradle and believe that Cradle will significantly optimize NIPT.”

Illumina was established in 2016. Headquartered in California, United States, it is a venture capital firm. In collaboration with other leading investment institutions, the company primarily invests in startups focused on genomics and precision medicine. Illumina’s key investment areas include genomics, healthcare, environmental science, public safety, and personal health management.

Section 32, founded in 2017 and headquartered in California, United States, is a venture capital and financial services firm. The company primarily focuses on the life sciences and healthcare services sectors, having invested in multiple biotechnology companies such as Teckro, Thrive Earlier Detection, and Fulcrum Therapeutics.

Alexandria, founded in 1994 and headquartered in California, USA, is a private equity company. The company is a premier real estate investment trust (REIT) that focuses primarily on science-driven industry clusters and is committed to advancing the development of the life sciences industry. Alexandria was listed on the New York Stock Exchange in 1997, with a total market capitalization of approximately $5.2 billion.

Sea Lane Ventures, headquartered in Wilmington, Delaware, USA, is a venture capital firm. The company collaborates with enterprises at various stages of development to create transformative technology platforms across industries. Sea Lane Ventures’ investment areas include life sciences, healthcare, software, and emerging technologies.

Listwin Ventures, established in 2010 and headquartered in Illinois, USA, is a venture capital and financial services firm. The company primarily invests in innovative enterprises in fields such as life sciences and agriculture, committed to breaking through traditional thinking and building a diversified portfolio of innovative brands.

Axon Ventures, established in 2014 and headquartered in California, USA, is a venture capital firm. The company boasts a professional investment team dedicated to providing strategic guidance to startups in the life sciences and genomics sectors.

(Compiled by Xu Xiaoxue)