NEW YORK (GenomeWeb) – Molecular diagnostics developer Castle Biosciences said today that it has expanded its credit facility with Silicon Valley Bank to $14 million.

The new facility refinances the company's existing $6 million loan, and adds $2 million in capital for new growth and a $5 million accounts receivable revolver loan. Castle said it will use the money to accelerate the development of its cutaneous melanoma test, DecisionDx-Melanoma, and to speed up new projects in its molecular diagnostic pipeline.

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