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VitaPath Genetics Raises $6M in Series A Round
Date:9/10/2009

FOSTER CITY, Calif., Sept. 10 /PRNewswire/ -- VitaPath Genetics, a molecular diagnostics company, announced today that it has closed a $6 million series A round of funding led by MDV-Mohr Davidow Ventures. VitaPath was originally seeded by X/Seed Capital, which also co-invested in the Series A. Concurrent with the financing MDV's Michael Goldberg and X/Seed's Michael Borrus took seats on the company's board.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070702/AQM026LOGO)

VitaPath Genetics develops molecular diagnostics to help patients and their doctors correct genetic mutations that can result in serious but preventable diseases. The company's initial focus is a validated genetic test for Spina Bifida, a common birth defect that can be avoided with high dose folic acid therapy under the care of a physician. The financing proceeds will be used to complete the validation of the company's first assay and prepare for commercial launch.

"VitaPath Genetics addresses a significant and underserved area of medicine - understanding and treating preventable diseases. Whereas most medicine is delivered after the fact, VitaPath provides actionable diagnostics to identify and prevent those most at risk from developing a disease or condition," Goldberg explained. "Diagnostics such as those developed by the VitaPath team will play a key role in achieving the nation's goal of preventing disease, improving patient care and reducing healthcare costs."

VitaPath Genetics CEO Bruce Cohen added, "We are delighted to have MDV and X/Seed support the development of a whole new generation of actionable genetic assays that are based on solid science. Our unique approach to discovery and validation, originally developed in the laboratory of Jasper Rine at UC/Berkel
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SOURCE MDV-Mohr Davidow Ventures
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