PROSPECTUS SUMMARY

This summary highlights information contained elsewhere in this prospectus. This summary is not complete
and may not contain all the information you should consider before investing in our common stock. You should read
this entire prospectus carefully, especially the risks of investing in our common stock discussed under the heading
Risk Factors, and our financial statements and related notes included elsewhere in this prospectus before making
an investment decision. Except as otherwise indicated herein or as the context otherwise requires, references in this
prospectus to Ariosa, the company, we, us and our refer to Ariosa Diagnostics, Inc.
Overview
We are a global commercial-stage molecular diagnostics company focused on improving overall patient care
by developing and delivering innovative, affordable and widely-accessible genetic testing. Our proprietary
technology allows targeted analysis of DNA and our expertise in bioinformatics and automation provides highly
efficient and scalable laboratory processes. We believe our approach is fundamentally transforming complex
molecular testing into an affordable solution that meets the rapidly evolving needs of patients, providers and payers.
Our offering, the Harmony Prenatal Test, or Harmony, is a safe, non-invasive and highly accurate blood test
for pregnant women that can be used as early as ten weeks into pregnancy. By evaluating DNA from the fetus and
mother found in maternal blood, commonly referred to as cell-free DNA, or cfDNA, Harmony can assess, with a
high degree of accuracy, the risk of the most prevalent fetal chromosome conditions, such as Down syndrome, and
provide fetal sex information. The evaluation of Harmony in over 8,000 pregnant women from the general and high
risk pregnancy population has resulted in twelve clinical studies, nine of which were jointly planned by Ariosa and
third-party clinical investigators and three of which were led by Ariosa. All clinical studies have been published as
peer-reviewed articles. We commercially launched Harmony in March 2012 and have since tested over 185,000
pregnant women, including over 45,000 women in the quarter ended December 31, 2013.

In recent years, there have been a number of scientific and technological advances in genetics. While such
advances have heralded an era of new molecular test offerings, their reach and potential impact has generally been
limited due to high costs and the long cycle associated with physician and payer education and adoption. These
challenges have limited reimbursement and prevented the broader population from accessing the superior results that
these technologies offer. This is particularly true with those offerings that seek to alter the standard of care by
providing novel genetic information. We believe many clinical markets, such as prenatal testing, infectious disease,
oncology and transplant medicine have substantial unmet needs for affordable, complex molecular tests that are
capable of improving patient outcomes and reducing the overall cost of care.
Since our inception, we have been focused on the large and well-established prenatal testing market for all pregnant
women. In the United States, there are approximately 4 million births annually, of which more than 500,000 are
considered high-risk pregnancies. Outside of the United States we estimate that approximately 130 million births
occur every year. Within the United States, prenatal testing for Down syndrome is the standard of care and is
supported by major medical professional societies. Traditional first-line testing for Down syndrome is a screening
test which provides a risk score. Maternal age was initially used as the primary screen and over time measurement of
serum proteins and ultrasound assessment was added, but these measurements must be taken during specific time
periods, generally between the first ten and twenty weeks of pregnancy. Unfortunately, these screening tests produce
false positive rates as high as 5% for potential chromosome conditions and fail to identify up to 30% of Down
syndrome fetuses. Second-line invasive diagnostic tests, such as amniocentesis, are typically offered to women who
receive positive screening results, including false positives, and to women who are 35 years of age or older,
collectively referred to as high risk pregnancies. While such tests provide confirmatory diagnosis, they are invasive
and associated with a risk of miscarriage.