Navigation Links
Good Start Genetics Announces $14M Series B Financing, Expands Senior Management Team
Date:4/2/2012

CAMBRIDGE, Mass., April 2, 2012 /PRNewswire/ -- Good Start Genetics,™ Inc., an innovative molecular diagnostics company developing the new gold standard in carrier screening, today announced it completed the initial closing of a $14 million Series B Preferred Stock financing, which was led by existing investors OrbiMed Advisors, Safeguard Scientifics, Inc. (NYSE: SFE) and SV Life Sciences. Proceeds from this financing will be used to augment commercial efforts for the Company's pre-conception carrier screening tests, and to support continued R&D efforts around its proprietary technology platform for future applications.

(Logo: http://photos.prnewswire.com/prnh/20111012/NY84930LOGO )

Don Hardison, President and CEO of Good Start Genetics, says, "We are pleased to complete the initial closing of our second financing as it provides the necessary funding to position Good Start Genetics for the next phase of growth. We value the vote of confidence and continued support from our current stockholders and are fortunate to have such a supportive group of world-class investors on our side."

NEW HIRES
As part of Good Start Genetics' growth and commercialization initiatives, the company has expanded its senior management team in areas of Finance, Human Resources as well as Customer Care and Reimbursement

  • Chief Financial Officer — Jean Franchi has more than 20 years of experience in specialty pharmaceutical, biotech, and diagnostics industries. Prior to joining Good Start Genetics, Ms. Franchi held a variety of senior business positions at Genzyme Corporation, including Senior Vice President of Corporate Finance and brings highly relevant experience to support commercial operations and business development activities.
  • Vice President of Human Resources — Paul Ethridge is an accomplished business leader with broad strategic and operational HR experience including domestic and international operations at the local, regional, and global level, including over 20 years of executive HR leadership experience with GlaxoSmithKline, most recently as Global Vice President of Human Resources for its Consumer Healthcare Supply division. He has had particular success in developing and implementing strategies to develop organizational culture and will be instrumental to support our commercial organization.
  • Vice President of Customer Care and Reimbursement — Laura Sullivan has more than 20 years of experience in the healthcare industry providing senior operational and reimbursement leadership. Prior to joining Good Start Genetics, Sullivan served as Vice President of Reimbursement and Contracting of Genzyme Genetics for 11 years and is experienced in securing reimbursement and working closely with customers and payors in the Genetic testing industry.

PROMOTIONS
In addition to Good Start Genetics' new hires, the company is pleased to announce promotions for the following team members in the areas of research, technology and operations:

  • Vice President of Research and Technology — Gregory Porreca, Ph.D. is a founder of Good Start Genetics and joined the company in 2009.  He is an expert developer of genome analysis technology and has served as a Lecturer on Genetics at Harvard Medical School as well as the Personal Genome Project Director of Technology. During that time, he co-developed the Polonator, a high-throughput commercial DNA sequencing system, in collaboration with Danaher Motion Dover. Greg also co-developed one of the first next-generation DNA sequencing systems at Harvard, which was further developed by Applied Biosystems to become the SOLiD platform. He is a featured author in numerous prestigious publications, an inventor on multiple patents/applications for nucleic acid analysis and has consulted for sequencing-related biotech companies.   Dr. Porreca holds a Ph.D. in Genetics from Harvard University and bachelor's degree majoring in Computer Science and Biology from The College of New Jersey.
  • Vice President of Laboratory Operations and Medical Director — Stephanie Hallam, Ph.D. brings more than 20 years of experience working, managing and directing a broad range of molecular and clinical molecular diagnostics. Before joining Good Start Genetics, she served as Vice President of Operations and Quality Systems at Allegro Diagnostics, Director of Clinical Operations at Genzyme Genetics, and Laboratory Director at each of Athena Diagnostics, Kimball Genetics, and the University of Utah. Dr. Hallam holds a Ph.D. in Molecular Genetics from the University of East Anglia, United Kingdom, and an M.B.A. from Clark University. She is a Diplomate of the American Board of Medical Genetics, holding certification in Clinical Molecular Genetics and Ph.D. Medical Genetics, and is a Fellow of the American College of Medical Genetics.

Don Hardison continued, "We are honored to attract and promote such exceptionally talented, experienced and successful professionals to Good Start Genetics to complement our strong and experienced management team. Our high caliber team will be vital to growing and expanding our platform."

About Good Start Genetics, Inc.
Good Start Genetics is setting the new gold standard in carrier screening by making testing for the most comprehensive set of known and novel disease-causing mutations accessible for routine clinical practice. After years of development and rigorous validation, Good Start Genetics has harnessed the power of next-generation sequencing and other best-in-class technologies to provide highly accurate, actionable, and affordable tests for all ACOG and ACMG recommended disorders. For these reasons, fertility specialists and their patients can have a high degree of confidence in their carrier screening results, and no longer have to compromise accuracy for price.
For more information, please visit www.goodstartgenetics.com.

About OrbiMed
OrbiMed is a preeminent investment firm dedicated exclusively to the healthcare sector with over $5 billion in assets under management. OrbiMed invests across the entire spectrum of pharmaceutical, biotechnology and medical device companies on a worldwide basis. Investments are made through venture capital funds, hedge funds, and other investment vehicles. For more information, please visit www.orbimed.com.

About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital and operational support to entrepreneurial and innovative life sciences and technology companies. Specifically in life sciences, Safeguard targets companies in Molecular and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine, Specialty Pharmaceuticals and selected healthcare services, and technology companies in Internet / New Media, Financial Services IT, Healthcare IT and selected business services with capital requirements of up to $25 million. For more information, please visit www.safeguard.com.

About SV Life Sciences
SV Life Sciences is a venture capital adviser and manager that make selected investments in businesses with experienced entrepreneurs and management teams. SV Life Sciences provides financing to businesses at all stages of development and across the human life sciences sector. These sectors range from biotechnology and pharmaceuticals to medical devices and instruments, to healthcare information technology and services. For more information, please visit www.svlsa.com.

This press release contains certain forward-looking statements that involve risks and uncertainties. Such statements are only predictions based on management's current projections and goals and are subject to a number of factors and uncertainties.  Information in these forward-looking statements is inherently uncertain and the Company's actual results may differ materially from those anticipated in such forward-looking statements.


'/>"/>
SOURCE Good Start Genetics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Startling results in synthetic chemistry presented in Nature Chemistry
2. JumpStart Invests $250,000 in Milo Biotechnology
3. Medisafe 1 Technologies to Start the $1MM Stock Repurchase Program of 10MM Shares up to 10 Cents a Share
4. Start of Phase IIa Study in Acute Lung Injury Patients Marks Development Milestone
5. Mexican State of Tamaulipas Starts Training Doctors in Sangui Wound Management
6. Global Cleantech Cluster Association Names New York City Startup Rentricity to Global Top 10 List
7. Garage Start-ups Now Possible in Life Sciences Industry
8. Angioslide Named One of Israels Top Ten Most Promising Startups of 2011
9. False starts can sneak by in womens sprinting
10. Good Start Genetics™ Announces Validation Results for its Next-Generation DNA Sequencing Platform for Genetic Disorder Carrier Screening
11. ViiV Healthcare Starts Phase III Clinical Programme of Celsentri/Selzentry® (maraviroc) versus Truvada® (tenofovir + FTC), in combination with a Protease Inhibitor in people living with HIV
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... in Vilnius, Lithuania, announced today that they have entered into a multiyear collaboration ... to provide CRISPR researchers with additional tools for gene editing across all applications. ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... the first-ever genomics analysis platform specifically designed for life science researchers to ... of pioneering researcher Rosalind Franklin, who made a major contribution to the ...
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back for its ... 2018 in San Francisco, CA. The Summit brings together current and former FDA office ... directors and government officials from around the world to address key issues in device ...
(Date:10/11/2017)... ... , ... Disappearing forests and increased emissions are the main causes of the ... Especially those living in larger cities are affected by air pollution related diseases. , ... pollution-affected countries globally - decided to take action. , “I knew I had to ...
Breaking Biology Technology:
(Date:4/4/2017)... NEW YORK , April 4, 2017   ... solutions, today announced that the United States Patent and ... The patent broadly covers the linking of an iris ... the same transaction) and represents the company,s 45 th ... our latest patent is very timely given the multi-modal ...
(Date:3/30/2017)... March 30, 2017  On April 6-7, 2017, Sequencing.com ... Genome hackathon at Microsoft,s headquarters in ... will focus on developing health and wellness apps that ... Hack the Genome is the first hackathon for ... world,s largest companies in the genomics, tech and health ...
(Date:3/30/2017)... , March 30, 2017 Trends, opportunities and ... and behavioral), by technology (fingerprint, AFIS, iris recognition, facial ... and others), by end use industry (government and law ... financial and banking, and others), and by region ( ... , Asia Pacific , and the ...
Breaking Biology News(10 mins):