Foley Hoag congratulates client Good Start Genetics, Inc., an innovative molecular diagnostics company that has developed the new gold standard in carrier screening, as it closed a non-dilutive loan facility for up to $28 million of capital from Capital Royalty L.P.
Good Start Genetics is a leading provider of carrier screening for the in vitro fertilization (IVF) market. Since its April 2012 commercial launch targeting the 460 IVF centers in the United States, Good Start Genetics’ high-complexity, CLIA- and CAP-accredited laboratory has processed tens of thousands of test orders. The GoodStart Select™ carrier screening service provides testing for all 23 diseases recommended by major medical societies and detects both common disease-causing mutations, as well as rare pathogenic mutations that would go undetected by laboratories using older, traditional genotyping-based technologies.
“The Capital Royalty loan will enable the company to pursue its corporate growth initiatives and further develop its proprietary technology,” said Foley Hoag partner Alex Aber, who serves as outside general counsel to Good Start Genetics. “We are proud of our relationship with Good Start Genetics and honored to work with such a terrific team.”
Partner Essence McGill Arzu and associate Jennifer Audeh led the Foley Hoag team that advised Good Start Genetics in the financing.