HealthQuest Leads $15.8M Financing of Lineagen, Inc.
Lineagen, Inc., an innovative molecular diagnostics company focused on disorders of childhood development, announced today the closing of the second and final tranche of its $15.8 million Series C round of financing. The final tranche of $12.17 million in new equity capital was led by new institutional investor HealthQuest Capital, joined by additional new investors Petra Capital Partners and Mountain Group Partners. Additional participants in the overall Series C round include Lineagen's earlier investors Sanderling Ventures, Signal Peak Ventures, PrairieGold Venture Partners, Mesa Verde Venture Partners, Archipel Capital, University Venture Fund, and KickStart Ventures. Additionally, as part of the initial tranche, Lineagen received a $4 million secured debt facility with Silicon Valley Bank.
"Lineagen's comprehensive suite of patient, family and physician support services, along with leading diagnostic technology, attracted HealthQuest Capital to lead this investment which will enable the Company to serve more physicians and families in achieving early diagnosis of autism and related disorders," commented David S. Kabakoff, Ph.D., partner of HeathQuest Capital. Dr. Kabakoff and David Fitzgerald of Petra Capital have joined the Lineagen Board of Directors in conjunction with the financing.