February 28, 2011 -- Celmatix Inc., an emerging biotechnology company focused on reproductive medicine, announced today the closing of a Series A financing round led by Topspin Partners. This follows initial funding through seed investment and government grants.
Celmatix will use the Series A financing to continue Research and Development for their proposed egg quality diagnostic, FertilArrayTM. Laura Towart Bandak, Celmatix Co-Founder and CEO said, “This financial endorsement by Topspin will enable us to expand research efforts that are key to rapidly pursuing the commercialization of our revolutionary infertility diagnostic.” Dr. Piraye Yurttas Beim, Celmatix Co-Founder and CSO added, “These funds will enable us to continue our studies of the female Fertilome—the region of the human genome that controls egg quality and fertility. A genomic study of this magnitude and scope in the field of reproductive biology is unprecedented.” Scientific Advisory Board member Dr. Alan Copperman added, “As we enter a new era of personalized and genomic medicine, I am enthusiastic about the approach and preliminary results from Celmatix in identifying new diagnostic and prognostic markers for female fertility. Upon validation across different populations, such a test has the potential to significantly impact patient care.” Dr. Copperman is the Director of the Division of Reproductive Endocrinology and Infertility as well as the Vice-Chairman of the Department of Obstetrics, Gynecology, and Reproductive Science at Mount Sinai Medical Center, and is Co-Director of Reproductive Medicine Associates of New York.
FertilArrayTM will be world’s first non-invasive diagnostic for assessing age-independent egg quality and female fertility. This diagnostic is designed to allow for physicians to diagnose genetic cases of infertility upfront, allowing for more direct guidance on specific treatments for patients to achieve reproductive success. Additionally, FertilArray will have broad applicability in other areas of reproductive health, including as a tool for egg donor screening and for family planning. Infertility has an estimated global prevalence of around 10% and affects more than 7.3 million women in the United States alone. Despite advances in diagnosing infertility, more than 10% of cases have indeterminate causes. In-vitro fertilization (IVF), the standard treatment for indeterminate cases, succeeds in only one-in-four procedures on average. For these women, the time and financial burden of infertility is staggeringly high.
About Celmatix, Inc.
Celmatix, Inc. is an emerging biotechnology company focused on developing innovative diagnostics for reproductive health to improve clinical outcomes. The company’s flagship product, FertilArray, will be the world’s first non-invasive diagnostic for assessing age-independent egg quality and female fertility. This diagnostic is designed to allow for physicians to diagnose genetic cases of infertility upfront, allowing for more direct guidance on specific treatments for patients to achieve reproductive success. Headquartered in New York, NY, Celmatix is backed by Topspin Partners. For more information, please visit www.celmatix.com.
About Topspin Partners
Topspin Partners is a group of venture and private equity funds based in Roslyn Heights, N.Y. Topspin venture funds focus on early stage, technology driven companies that exhibit exceptional leadership coupled with state of the art science. These funds also encourage entrepreneurship in New York, especially on Long Island, to foster the transition from scientific and technical innovation to commercialization with the region’s premier research institutions. Topspin LBO is a private equity fund that makes control investments in profitable and established small businesses. For more information, please visit www.topspinpartners.com.