BRISBANE, Calif.--(BUSINESS WIRE)-- XDx, Inc., a San Francisco-based molecular diagnostics company focused on non-invasive gene expression-based tests for the monitoring of organ transplant rejection and autoimmune diseases, announced today that it has established a $12.5 million senior secured multi-draw term loan facility with GE Capital, Healthcare Financial Services. The financing provides the company with working capital to expand the commercialization of its FDA-cleared, innovative, non-invasive AlloMap® molecular diagnostic test and pursue the development of other gene expression-based tests for autoimmune diseases, including lupus.
“GE Capital, Healthcare Financial Services has been a dynamic financing partner, and has created a deal structure specifically to support our long-term commercialization strategy,” said Jean-Frederic Viret, Ph.D., XDx’s chief financial officer. “This facility together with our other financial resources and existing cash should allow us to execute our growth strategy focused on commercializing and further developing our proprietary molecular diagnostics technology.”
“We are pleased to provide capital to XDx to help them expand the commercialization of the FDA-cleared AlloMap molecular diagnostic test,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “Our combination of healthcare and financial expertise enabled us to provide XDx with the best financing solution to meet their overall business objectives.”
About XDx
XDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of non-invasive gene expression-based tests for the monitoring of transplant rejection and autoimmune diseases. The company has developed AlloMap Molecular Expression Testing, an FDA-cleared test, which provides transplant physicians with a tool to aid in the determination of the probability of acute cellular rejection for post-cardiac transplant patient management. Some of the AlloMap technology developed and implemented by XDx in heart transplant patient management may be applicable to other conditions that involve transplant rejection and diseases that affect the immune system. XDx’s non-invasive technology offers the potential to decrease healthcare costs and improve the quality of life for patients with a variety of life-threatening or life-altering immune-mediated diseases. For more information, please visit www.xdx.com.
Contact:
Pure Communications Sheryl Seapy, 949-608-0841
