CareDx

The firm said momentum from the launch of its kidney transplant test Allosure drove the overall revenue increase.

CareDx has paid Illumina a $5 million initial payment and will pay royalties in the mid-single to low-double digits on sales of future commercialized products.

The firm says its Olerup QType test is available on both Roche and Applied Biosystems platforms.

The company said it had a large uptick in testing revenues during the quarter, including for its AlloSure kidney transplant test, which was launched in October.

Perceptive Credit Holdings has agreed to provide the company with the loan, which CareDx said it will use to repay outstanding debt.

The firm said it expects fourth quarter revenues of $12.3 million to $12.5 million, a year-over-year increase of 13 percent to 15 percent.

Though revenues from its non-invasive heart transplant rejection test AlloMap fell about 5 percent, CareDx is already being reimbursed by Medicare for its new AlloSure test.

The firm, which said last week it expected to raise $15.9 million, has said it will use the net proceeds for working capital and general corporate purposes.

The company said it plans to use the net proceeds for working capital and general corporate purposes.

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