Baebies, a biotech startup developing products and services for newborn screening and pediatric testing, has raised nearly $6 million, raising its latest funding round to more than $18.7 million.
The Durham-based company raised the funds from 135 investors, according to the recent SEC filing.
The round is capped at $19 million, with $238,778 remaining to be sold to meet its goal.
The funding news is another sign that Baebies continues on its upward track.
Baebies’ products include SEEKER, a FDA cleared and CE marked newborn screening platform for lysosomal storage disorders, and FINDERTM, a near patient pediatric testing platform that is still under development and not available at this time for sale or use in any territory.
Talking strategic partnerships: Bill Wofford, Debra Miller, Richard West and Chris Pendland at LaunchBio’s Invest in Cures forum.
Last year, WRAL TechWire reported that Baebies had formed a three-year strategic partnership with California non-profit, CareDucenne, potentially worth millions. It also raised another $12.3 million in equity that same year.
Founded in 2014 by Richard West and Vamsee Pamula, the pair teamed up after selling their earlier startup, Advanced Liquid Logic. A Duke University spinout, it developed lab-on-a-chip technology, and sold to Illumina Inc. for $96 million in 2013.
“My partner and I wanted to do something where we would both be doing well and doing good at the same time,” West previously told WRAL TechWire. “It’s mission: We save babies. We look forward to solving a lot of problems. There’s plenty of more work to do.”
On the filing, the firm indicated that funds would be used for the payment of salaries and other compensation and benefits.
“No officer, director or promoter will receive any payments from the proceeds of this offering,” it said.
CureDuchenne and Baebies: How a nonprofit and biotech startup are fighting ‘to save babies’
