SynapDx Corp. said Monday that it has raised $15.4 million in funding. The lead investor was Google Ventures. Foundation Medical Partners also participated in the round as did existing investors North Bridge Venture Partners and General Catalyst Partners. In addition to the funding, SynapDx has named Google’s Andrew Conrad, PhD, to the company’s board. Based in Lexington, Mass., SynapDx is a provider of diagnostic services for autism and neurodevelopmental disorders.
PRESS RELEASE
LEXINGTON, Mass.–(BUSINESS WIRE)–SynapDx Corporation, today announced it has secured a $15.4 million funding round, led by Google Ventures. Foundation Medical Partners also joined the financing as a new investor alongside founding investors North Bridge Venture Partners and General Catalyst Partners.
The funding will support the continued advancement of SynapDx as a next generation diagnostics and informatics company focused on pediatric neurodevelopmental disorders. SynapDx is currently developing a breakthrough blood-based autism spectrum disorder (ASD) diagnostic test, designed to help clinicians identify children with autism earlier than they do today.
SynapDx also announced the appointment of Google’s Andrew Conrad, PhD, to the company’s Board of Directors. Conrad is the former chief scientific officer of LabCorp and co-founder of its National Genetics Institute.
Conrad noted, “The best diagnostic tests of our era will be developed at the nexus of advanced genomics and cutting edge informatics. SynapDx stands to revolutionize the autism field while building the pediatric genomics company. Given my prior involvement on Autism Speaks’ board, I am well aware of the need for better diagnostics to help clinicians and families get children identified as quickly as possible.”
Krishna Yeshwant, MD, General Partner at Google Ventures, added, “SynapDx’s use of advanced technologies and multiple analytes to generate the most informative blood test possible is a great example of the type of industry-altering innovation we look for at Google Ventures. Andy and I look forward to focusing on this important mission and accelerating the company’s growth.”
Bill Geary, Partner, North Bridge Venture Partners, noted, “SynapDx has demonstrated its commitment to improving the autism diagnostic process and can offer new hope to patients and their families for earlier detection. This investment further validates the company’s groundbreaking approach, but also underscores the need for continued autism awareness.”
“We are excited to include Google Ventures and Foundation Medical Partners amongst our list of notable investors and recognize the transformational opportunity this presents for SynapDx,” said Stan Lapidus, CEO, SynapDx. “As our clinical study progresses and we look toward commercialization, our partnership with Google, Andy and Krishna will be instrumental for the company’s next phase.”
Foundation Medical Partners, a healthcare technology venture capital firm, brings tremendous and relevant successful investment and operating experience as well as its strategic limited partnership relationship with Cleveland Clinic, which benefits the firm and its portfolio companies.
About SynapDx Corp.
SynapDx is a private company developing laboratory diagnostic services for autism and neurodevelopmental disorders, with the initial goal of enabling earlier detection of autism spectrum disorders (ASDs). The company collaborates with ASD experts at leading institutions. SynapDx was founded in 2010 and is based in Lexington, Mass. Members of the board of directors are: Hemant Taneja, Partner at General Catalyst; Bob Carpenter, former Lead Director of Genzyme and founder of Integrated Genetics; Tom Mac Mahon, founding and former CEO of LabCorp; Stan Lapidus, CEO SynapDx; Andy Conrad, Google; Bill Geary, Partner at North Bridge Venture Partners. SynapDx’s investors include North Bridge Venture Partners, General Catalyst Partners, Google Ventures, Foundation Medical Partners, LabCorp and The Kraft Group.
