Counsyl Raises $80M

NEW YORK (GenomeWeb) – Genetic testing firm Counsyl reported today that it has raised $80 million in financing from life sciences investment firm Perceptive Advisors.

Counsyl Cofounder and CEO Ramji Srinivasan said in a statement that the new financing will be used to grow the company “with an eye toward making expanded carrier screening as routine as taking folic acid, noninvasive prenatal screening as routine as an ultrasound, and hereditary cancer screening as well-known as a pap smear.”

The firm offers tests such as Foresight Carrier Screen, Prelude Prenatal Screen, and Reliant Cancer Screen. Since its founding, Counsyl has screened more than 850,000 patients, served more than 17,000 healthcare providers, and provided more than 60,000 genetic counseling sessions, it noted.

The company previously raised $28 million in 2014. According to a document filed with the US Securities and Exchange Commission, it raised about $2.2 million in March 2016.

The company also announced today that Home Care Assistance CEO Lily Sarafan has joined Counsyl’s board.

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