Lineagen, Inc. to Showcase $15 Million Series ‘B’ Round at the 9th Annual BIO Investor Forum

Lineagen Looks to Close $10 Million of New Commitments in Addition to $5 Million by Current Series ‘A’ Investors, Sanderling Ventures, vSpring Capital, PrairieGold Venture Partners and Mesa Verde Venture Partners

SALT LAKE CITY -- Oct 4, 2010 -- Lineagen, Inc., a specialty diagnostics firm offering high-value genetic testing and consultative healthcare services for Autism Spectrum Disorders (ASD), today announced that Dr. Michael S. Paul, President and Chief Executive Officer, will present details of the company’s $15 Million Series ‘B’ investment round at the 9th Annual BIO Investor Forum. Dr. Paul will present at 4:00 p.m. Pacific Time, on Tuesday, October 5th in the Marina Room of the Palace Hotel in San Francisco, CA.

A $10.8 Million Series A round funded the discovery and development phase of the company. Lineagen is now seeking to close $10 Million of new commitments to its $15 Million Series B offering. Existing Series A investors, Sanderling Ventures, vSpring Capital, PrairieGold Venture Partners and Mesa Verde Venture Partners, will commit at least $5 Million to this Series B round.

Series B funds will be directed to expand the company’s commercial franchise, enhance margins, introduce new, proprietary clinical testing services, and deliver physician- and consumer-directed consultative services that have proven successful in the diagnostic healthcare space.

About Lineagen

Lineagen, Inc., based in Salt Lake City, sells innovative diagnostic and consultative healthcare services for Autism Spectrum Disorders (ASD) to physicians, combining high-value, high-margin genetic testing with comprehensive, personalized consultative services.

Lineagen is strongly differentiated through its focus on specific disease areas, specialty clinical expertise and strong intellectual property. Lineagen’s competitive advantage combines powerful insight into the clinical diagnostic pathways of complex diseases with extensive proprietary and in-licensed genetic research data associating specific gene variants with ASD, Multiple Sclerosis and COPD.

Lineagen addresses a large unmet need for centralization of testing services and expert disease area consultation. Lineagen’s mission is to become a leader in the enablement of earlier and more personalized disease intervention and management for ASD, MS and other complex diseases where genetic susceptibility matters.
 
About Lineagen’s Focus on Autism Spectrum Disorders

The decision to focus on Autism Spectrum Disorders (ASD) stems from a compelling opportunity to help community physicians perform the genetic testing currently recommended by the American College of Medical Genetics for the evaluation of children with ASD and Developmental Delay. Genetic variations have been established to contribute to the cause of ASD.

Currently, the diagnosis of ASD and other disorders of development is delayed, expensive, and frustrating for physicians and families. A bottleneck results from the lack of tools in the primary care setting and the resulting referral to specialists. Availability of specialists is limited, which further delays recommended genetic testing, which in turn delays referral of these children to definitive treatments shown to be clinically effective for ASDs.
The annual rate of genetic testing is growing in line with the increasing use of molecular diagnostic tests. The current market penetration of testing in children considered to be at risk of developmental disorders is less than 5%.

About the BIO Investor Forum

Organized by the Biotechnology Industry Organization, the BIO Investor Forum is an international investor conference focused on private and emerging public biotech companies. The forum explores investment trends and opportunities in life sciences, with a focus on public and venture-stage growth companies as well as those poised to join the growth “watch list” in 2011.