SERA PROGNOSTICS Business Summary

Sera Prognostics, Inc. (SERA) operates as a commercial-stage health diagnostics company specializing in maternal and neonatal health through a proprietary proteomics and bioinformatics platform. The company generates revenue primarily through the sale of its flagship PreTRM® Test, the only broadly validated, commercially available blood-based biomarker test designed to predict individualized risk of spontaneous preterm birth in asymptomatic singleton pregnancies between weeks 18 and 20. As of early 2026, the business model is transitioning from clinical validation to aggressive commercial expansion, leveraging landmark PRIME study data published in January 2026 to secure coverage from state Medicaid programs and large commercial payers. Sera competes in the specialized prenatal diagnostics market against firms such as Nixxi, NX Prenatal, and Mirvie; however, it maintains a distinct competitive advantage as the first mover with a proteomic-based clinical standard for early-term risk stratification. The leadership team is led by President and CEO Zhenya Lindgardt, a former Uber executive and Senior Partner at Boston Consulting Group with deep expertise in scaling two-sided marketplaces and healthcare operations. The clinical strategy is directed by Chief Medical Officer Dr. Tiffany Inglis, an OBGYN and former executive at Elevance Health, while commercial efforts are spearheaded by CCO Lee Anderson, who previously held leadership roles at Genomic Health and Exact Sciences. The company was founded by UpStart Life Sciences Capital and is supported by a high-pedigree board including Chair Dr. Kim Kamdar of Domain Associates and former Myriad Genetic Laboratories President Dr. Gregory Critchfield. Notable institutional backers include Baker Bros. Advisors, RA Capital Management, and Whetstone Capital Advisors, reflecting strong investor interest in the company’s potential to disrupt the high-cost obstetric care segment.