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Ignyta Receives $1M Loan Facility

Feb 28, 2013 | staff reporter

NEW YORK (GenomeWeb News) – Autoimmune diagnostics firm Ignyta today said that Silicon Valley Bank has provided it an additional $1 million capital term loan facility.

The new facility is on top of a previous $500,000 facility between the Ignyta and the bank arranged in June 2012. In January, Ignyta raised $5.5 million in Series B financing.

"Ignyta is well-capitalized to execute our ambition of developing an objective biomarker based test to help detect rheumatoid arthritis in its earliest stages," its Co-Founder and CEO Jonathan Lim said in a statement.

Earlier this week, the San Diego-based firm announced it would be working with Leiden University Medical Center to evaluate epigenetic signatures of patients with early synovitis and rheumatoid arthritis.

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