Assurex Health, a Mason, OH-based personalized medicine company, secured a $32m financing.
A $25m term and revolving credit facility was provided by GE Capital, Healthcare Financial Services, acting as Agent, and Silicon Valley Bank, while an additional $7m equity financing was provided by existing investors Sequoia Capital, Claremont Creek Ventures, Mayo Clinic, Cincinnati Children’s Hospital Medical Center, CincyTech, Allos Ventures, Four Rivers Partners, Danmar Capital, and jVen Capital.
The company intends to use the proceeds to support increasing clinical adoption of its GeneSight® products.
Led by James S. Burns, Chief Executive Officer, Assurex Health provides clinically-relevant individualized genetic information to help physicians select the right medication for patients with depression, anxiety, chronic pain, ADHD and other neuropsychiatric disorders.
Its proprietary technology is based on pharmacogenomics – the study of the genetic factors that influence an individual’s response to medication treatments – as well as evidence-based medicine and clinical pharmacology.
The company has licensed patented technology from Mayo Clinic and Cincinnati Children’s Hospital Medical Center.