Biotech Startup Proves the Value of Growing with Experienced Leaders

A company with big ambitions is focusing on what matters most for success at a new corporation of any size – personnel. In addition to recently raising $14 million of new funding, Good Start Genetics announced new hiring and promotions for key executive positions.

Good Start Genetics has created preconception carrier screening tests for couples who plan to raise families. The startup company’s platform for genetic screening uses next-generation sequencing to evaluate patient DNA samples. This process detects both common and novel mutations associated with recessive genetic disorders.

The impact of Good Start on genetic screening is the reduced cost to test for more than merely routine disease causing mutations. By detecting a large number of genetic markers, Good Start is not limited to testing only patients of specific ethnicity for prevalent mutations in their population group. Instead, Good Start targets a much greater market because the company’s detection system encompasses a substantial number of mutations at a reasonable cost.

The new capital infusion is intended to launch Good Start Genetics to its next phase of growth. Broad commercialization of the company’s screen tests plus research and development of future applications are planned. Good Start Genetics recently moved its 20 employees into a new 15,000 square foot facility in Cambridge, Massachusetts.

Initial funding for the company was a loan for $18 million from the Massachusetts Life Sciences Center. Good Start Genetics was the first recipient of financing from this source to repay borrowing with interest.

Of particular note for the company is the positioning of high quality management. The new Chief Financial Officer is a former senior vice president of corporate finance at premier biotech company Genzyme Corp. Also joining the Good Start team from Genzyme is a new vice president of customer care and reimbursement. Good Start also hired a vice president of human resources with 20 years of experience at pharmaceutical giant GlaxoSmithKline. One of the founders of Good Start Genetics, who developed genome analysis technology, will focus on his new position as vice president of research and technology.

Recommended Reading:

  • No Related Posts
This entry was posted in Startups and tagged , . Bookmark the permalink.