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GE Healthcare Takes Stake in CardioDx; Forms MDx Alliance

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – GE Healthcare has invested $5 million in molecular diagnostics firm CardioDx as part of a Series D round of financing for the startup.

GE Healthcare also said that it has formed an alliance with the Palo Alto, Calif.-based firm to co-develop diagnostic technologies for the care and management of patients with cardiovascular disease.

CardioDx is developing a gene expression-based test, called Corus CAD, that is aimed at determining the likelihood that a patient has obstructive coronary artery disease. Such a test would enable physicians to determine a patient's status non-invasively, rather than through a combination of invasive and non-invasive methods.

The $5 million equity investment was made through the GE Healthymagination Fund, a $250 million fund which seeks to invest in firms developing technologies with the potential of reducing cost, increasing access, and improving quality in healthcare, said GE. The firms did not disclose the percentage of CardioDx equity that GE now owns.

"The alliance with CardioDx gives us access to new and exciting technologies in high-value diagnostics, which will complement and strengthen our existing offerings," Pascale Witz, president and CEO of GE Healthcare's Medical Diagnostics business, said in a statement. "CardioDx is an excellent strategic fit with GE Healthcare, given our common focus on cardiovascular disease."

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