GenomeDx Biosciences, a company that develops a genomic test for predicting metastatic disease in men with prostate cancer, secured expansion financing from CRG, a healthcare investment firm, in the form of a senior secured term loan.
The amount of the deal was not disclosed.
The company intends to use the funds to further its strategic growth initiatives and enable further commercial expansion of the Decipher® franchise of genomic solutions.
Led by Doug Dolginow, CEO, GenomeDx provides Decipher, a genomic test for men who have had prostate surgery and are considered by guidelines to be at high-risk for their cancer returning. Decipher predicts the probability of metastasis and helps to guide the need for secondary therapy after surgery.
The company recently launched Decipher GRID TM, its genomics research information database. The GRID is a large clinically annotated urologic cancer genomic expression database, containing thousands of patients and developed through years of clinical research.
GenomeDx is based in San Diego, California and Vancouver, British Columbia.