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January 7, 2009

Gene Security Network Completes $6 Million in venture capital investment

Gene Security Network, Inc. completed $6 million in Series B vc funding from Claremont Creek Ventures, Sequoia Capital, and Alalfi Capital. Gene Security, Inc. is a molecular diagnostics company that uses data informatics to enhance genetic testing. This bioinformatic technology is used for complex testing of small quantities of genetic matter. The Red Wood City based company�s proprietary Parental Support trademark technology is the first to use data informatics to deliver accurate single cell testing for chromosome abnormalities and genetic diseases. Parental Support works by useing the genetic information from both parents and the HapMap data from the Human Genome Project. The company also operates a CLIA certified laboratory that provides testing to guide physicians in selecting embryos for in-vitro fertilization.

Gene Security Network, Inc.�s Parental Support technology is a world leading testing system that is transforming the preimplantation genetic testing during in-vitro fertilization. In launching new applications, the company will expand the market by providing better testing for families to deal with genetic diseases. This funding from this group of venture firms is a testament to the progress that Gene Security Network has made to deliver accurate testing from a single cell. This technology will enable all sorts of services in the reproductive field.

The venture partners that took part in this investment are Claremont Creek Ventures, Sequoia Capital, and Alafi Capital. Claremont Creek Ventures and Sequoia Capital have been Gene Security Network�s investors since its foundation. Claremont Creek Ventures is a vc firm that focuses on early stage information technology start up companies. One of the major focuses of this firm is the interface between information technology and healthcare. Sequoia Capital is a known vc firm that provides venture funding to people that want to turn business ideas into companies. The best known investment of Sequoia Capital is that of Apple. Sequoia Capital worked with Steve Jobbs in founding Apple along with other prominent technology companies.

Alafi Capital is a new investor to the company. Alafi is privately owned and has been providing venture capital to companies in the healthcare industry of over 25 years. This vc firm mainly provides venture funding to early and mid-stage companies in the United States and Europe. The companies that Alafi Capital invests in are mainly in bio technologies, imaging, diagnostics, and medical devices.

This round of funding will help Gene Security Network, Inc. continue to market its Parental Support technology and enable to help doctors work on a better quality of life for their patients.