XDx establishes $12.5 million multi-draw term loan facility with GE Capital

Jan 28 2011

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."