LEXINGTON, Mass.--(BUSINESS WIRE)--SynapDx Corporation today announced it has secured a significant investment from The Kraft Group. The funding will support the ongoing clinical development of SynapDx’s breakthrough blood-based autism spectrum disorder (ASD) diagnostic test, designed to help clinicians identify children with autism earlier than they do today.
Conducting business in more than 90 countries with more than 5,000 employees worldwide, The Kraft Group, headquartered in Foxborough, Mass., is the holding company for the Kraft family’s various businesses, with interests in paper and packaging manufacturing, sports and entertainment, real estate development and a portfolio of private equity investments.
The Kraft Group investment, for which financial details were not disclosed, builds on SynapDx’s recent momentum, which includes a $6 million round in financing announced in December 2012, a $2 million investment from LabCorp and strategic partnership with next-generation sequencing pioneer Illumina. Working closely with ASD experts at leading institutions across the country, SynapDx will use the investment to fund further studies of its early ASD diagnostic test.
“The Kraft Group has a broadly admired business and philanthropic history with a deep interest in healthcare innovation,” said Stanley Lapidus, CEO, SynapDx. “This investment further validates our approach and the impact our test could have on families and patients.”
About SynapDx Corp.
SynapDx is a private company developing laboratory diagnostic services for autism and neurodevelopmental disorders, with the initial goal of enabling earlier detection of autism spectrum disorders (ASDs). The company collaborates with ASD experts at leading institutions. SynapDx was founded in 2010 and is based in Lexington, Mass. SynapDx’s investors include North Bridge Venture Partners, General Catalyst Partners and LabCorp.