Veracyte Finds $28M For Molecular Diagnostics

Veracyte, a company developing molecular diagnostics products, has raised $28M in a Series C financing round. The firm, which has a lab and major operations in Austin, said the funding was led by GE Ventures, and also included Domain Associates, Kleiner Perkins Caufield & Byers, TPG Biotech, and Versant Ventures. Veracyte's initial product is a gene expression test to help reduce unnecessary surgeries as part of thyroid cancer diagnosis. The company has a CLIA-certified laboratory in Austin, but is headquartered in San Francisco. More information »