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CardioDx Raises $60M in Private Financing

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – CardioDx today announced it has closed on a $60 million equity round.

The Palo Alto, Calif.-based cardiovascular genomics testing firm said that the funding will be used to expand reimbursement coverage in the US for its Corad CAD, a gene expression test to determine which patients have or don't have coronary artery disease. The test was launched in June 2009 as a laboratory-developed test.

New investors Longitude Capital, JP Morgan, Acadia Woods Partners, Artiman Ventures, and Bright Capital, the venture arm of RU-COM, participated in the round, which also included previous investors.

Prior investors in the firm include Kleiner, Perkins, Caufield & Byers; TPG Biotech; Mohr Davidow Ventures; Intel Capital; Pappas Ventures; DAG Ventures; Asset Management; and GE Capital.

David Levison, CardioDx's CEO, told GenomeWeb Daily News in March that the firm had raised more than $40 million in a Series E round and added that the company would hold a second closing on the round.

A company spokeswoman confirmed that the $60 million is the final figure on the Series E round.

Levison also previously told GWDN that despite raising more than $100 million since its founding in 2004, CardioDx is not yet eyeing an IPO, but will instead focus on increasing adoption of its Corus CAD test and developing other tests in its pipeline.

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