Auxogyn Inc., in Menlo Park, California, a developer of viability tests of embryos during in vitro fertilization (IVF) procedures, has raised $18 million in series B venture funds, the second round of financing after initial start-up. The financing was led by new investor SR One — the corporate venture capital arm of GlaxoSmithKline — and includes all of the company’s series A investors: Kleiner Perkins Caufield and Byers, TPG Biotech, and Merck Serono Ventures.
Proceeds from the round are expected to support regulatory clearance and commercial launch of Auxogyn’s Early Embryo Viability Assessment (Eeva), a non-invasive test that provides objective information about the viability of embryos during in vitro fertilization. The Eeva test is designed to improve IVF outcomes by providing clinicians and patients with data to help them more confidently select embryos for transfer.
Auxogyn says Eeva’s software automatically analyzes embryo development against scientifically and clinically validated cell-division timing metrics. The quantitative data on each embryo’s development potential makes it possible for IVF clinics to optimize the treatment path for their patients undergoing IVF procedures.
Eeva, says the company, is used with traditional embryo assessment techniques to offer IVF clinics and patients the potential to to reduce multiple births by enabling single embryo transfers for a large number of patients. The test is designed to fit into most standard IVF incubators and routine lab workflow.
Lissa Goldenstein, president of Auxogyn, says the company plans to secure a CE Mark for Eeva and introduce the test commercially in Europe in the second half of 2012. The CE Mark is required for many new products in Europe, and indicates the product meets EU safety, health and environmental protection requirements.
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