Verinata closes $48.5M Series C

Verinata Health has raised approximately $46.5 million in the finalization of its Series C financing with the remaining $2 million expected to close by the end of the month. The funding was led by existing investors Mohr Davidow Ventures, Sutter Hill Ventures and Alloy Ventures. The company plans to use the proceeds to fund the continued R&D and subsequent commercialization of its non-invasive prenatal diagnostic test.

"This substantial financing demonstrates our investors' confidence in Verinata's ability to meet or exceed corporate and product milestones as we proceed rapidly on the path to commercialization of our first diagnostic test," said CEO Caren Mason. "We look forward to completing our validation study later this calendar year, as we prepare for a successful launch of our non-invasive prenatal diagnostic in the first quarter of 2012."

Verinata, which is based in San Carlos, CA, is focusing on non-invasive tests for early identification of fetal chromosomal abnormalities. It is conducting a prospective, blinded pivotal study to clinically validate the sensitivity of its first prenatal test.

- see the Verinata release