NEW YORK (GenomeWeb) – Castle Biosciences today announced it has secured a $6 million credit facility from Silicon Valley Bank.
The funding will be used to support commercial and clinical activities for the firm's cutaneous melanoma test called DecisionDx-Melanoma for determining the metastatic risk of patients with melanoma, Castle President and CEO Derek Maetzold said in a statement. The financing will also be used for general operations.
The Friendswood, Texas-based molecular diagnostics firm offers tests for uveal melanoma, cutaneous melanoma, esophageal cancer, and other indications. In August it raised $11.8 million in a Series E financing round.