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$15M Credit Facility Established for MDx Company XDx

NEW YORK (GenomeWeb News) – Oxford Finance today said that it and Silicon Valley Bank have provided a $15 million senior credit facility for molecular diagnostics firm XDx.

The Brisbane, Calif.-based developer of tests for monitoring transplant rejection and autoimmune diseases will use the funds for working capital and for the development of new diagnostic applications using XDx's molecular expression technology.

Along with its AlloMap gene expression test for monitoring heart transplant rejection, launched in 2005 and approved by the US Food and Drug Administration three years later, XDx announced in the spring a deal with Laboratory Corporation of America to develop and commercialize a diagnostic test for systemic lupus erythematosus (SLE).

Also in the company's pipeline are tests directed at the immune system.

In January 2011 XDx established a $12.5 million senior secured loan facility with GE Capital, Healthcare Financial Services.