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PrairieGold Venture Partners Joins Sanderling Venture Partners, vSpring Capital, and Mesa Verde Venture Partners to Add $5 Million to Complete a $10.8 Million Series A Funding Round for Lineagen
August 30th, 2010 1 comment
Based in Salt Lake City, Utah, Lineagen is a company that develops unique diagnostics for many diseases that plague Americans today, such as autism and other like genetic diseases. The company had announced on August 30, 2010, that it has closed a large series A funding round with PrairieGold Venture Partners adding an additional $5 million to complete the total funding round at $10.8 million. PrairieGold is a new investor that joins a syndicate of existing investors to the company, which include Sanderling Venture Partners, vSpring Capital, and Mesa Verde Venture Capital.
The first closing of this funding round was in December 2007 with a $5.8 million and as the existing above mentioned investors continued their support for Lineagen, PrairieGold decided to join in the funding and as part of the agreement for the additional $5 million, PrairieGold’s Mike Jerstad will join the company’s board of directors.
According to Mr. Jerstad, the people at PrairieGold Venture Partners are very happy to join in a partnership with Lineagen because the company and its innovations will positively impact the children who suffer from autism and their families. What makes Lineagen’s product so unique is that it will aid general practitioners and pediatricians to more easily navigate the time consuming process in diagnosing autism, which often can cause problems for the children who suffer from this disorder and their parents. Furthermore, a quicker diagnosis can also lead to quicker methods of treatment and therapy to help children and their families compensate and function normally with this disorder.
According to the president and CEO of Lineagen, Dr. Michael S. Paul, the company is very pleased to have PrairieGold Venture Partners join this amazing syndicate of investors and provide this extra funding to allow for Lineagen to fulfill its mission in quickly develop diagnostics for autism. Dr. Paul also further added that the addition of Mr. Jerstad to the company’s board of directors will add great expertise to the company’s board of directors and steer the company into the right direction. Mr. Jerstad will join an experienced team of people that will eventually lead the company to a leadership role in the autism diagnostic market.
Autism is believed to be one of the fastest growing disorders among American children during this day and age. The disorder can cause quite a bit of distress for both the children suffering from the disorder and their families. It is believed that in the United States alone, one in 110 children suffer from autism and this cannot only cause psychological distress, but can also cause enormous financial and social burdens to these families. Furthermore, studies have also suggested that behavioral modifications and special diets can greatly affect the quality of life for autism sufferers and yet many autistic children go untreated due to the growing bottleneck of pediatricians referrals to specialists and therapists who can diagnose this disorder. The product that Lineagen brings to the table allows for pediatricians to quickly diagnose this disorder and allow families to get the needed treatment for their children quicker and avoid problems later when school starts.
PrairieGold Venture Partners is a venture capital firm that will invest primarily in early stage startup companies who are in the green tech and life sciences industries. PrairieGold primarily likes to invest in companies which do not have much capital to start out with and will also join syndicated investment rounds as in Lineagen. Some other companies in PrairieGold’s portfolio include ZeaChem, Orasi Medical, Augusta Systems, Chronix Biomedical, and others.
1 responses to “PrairieGold Venture Partners Joins Sanderling Venture Partners, vSpring Capital, and Mesa Verde Venture Partners to Add $5 Million to Complete a $10.8 Million Series A Funding Round for Lineagen” 
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Great healthcare investment. Hopefully autism won’t be a problem anymore in the near future. My nephew was also diagnosed with this disorder when he was three and it was already too late to do something significant about it, unfortunately. Maybe Lineagen will help discover autistic features at an earlier stage in the life of a child.