GSN completes $20M financing round

Jan 7 2012

Gene Security Network Inc. (GSN) today announced the completion of a $20 million financing round, as well as the change of the company's name to Natera, Inc. The financing round was led by Lightspeed Venture Partners, which is joined in the current round by Claremont Creek Ventures and Sequoia Capital.

"For me, our new name evokes birth, nature, and earth, and reflects our mission to help couples around the world manage pregnancies and reduce the risk of genetic disease," said Matthew Rabinowitz, Ph.D., CEO of Natera. "With proceeds from the funding and the extensive expertise of our team, we will continue to develop diagnostics that lead the industry in terms of the breadth, speed and reliability of information delivered to expecting couples at the early stages of pregnancy."

Ravi Mhatre, managing director of Lightspeed Venture Partners, added, "Lightspeed Venture Partners is delighted to have led this financing. We believe that Natera's testing services and expertise represent the future of prenatal diagnostics."

Proceeds from the financing will support the continued development and commercialization of the company's non-invasive prenatal diagnostic for Down syndrome and other genetic conditions. This includes the expansion of the NIH-funded clinical trial and preparing for commercial launch of the test in 2012.

"Non-invasive prenatal diagnosis is poised to redefine pregnancy management around the world," said Roelof Botha, partner at Sequoia Capital. "This additional financing and the launch of Natera's next product will fundamentally change the quality of prenatal care to help families have healthy children."

Added John Steuart, managing director at Claremont Creek Ventures, "We have been involved with Natera since its inception. With a steadfast focus on helping doctors give couples the best chance of having a healthy child, the company has successfully launched multiple products and has experienced tremendous growth in recent years. That is why we're very pleased to be part of this financing and look forward to seeing the company take the next step."