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XDx Gets $12.5M Loan Facility from GE Capital

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – XDx today said that it has established a $12.5 million senior secured loan facility with GE Capital, Healthcare Financial Services.

The Brisbane, Calif.-based molecular diagnostics firm said that it would use the funds as working capital to support expanded commercialization of its AlloMap multi-gene molecular expression tests.

The company received US Food and Drug Administration clearance in 2008 its AlloMap test for heart transplant patients. Today, it said that it plans to pursue development of other gene expression-based tests for autoimmune diseases including lupus.

"This facility together with our other financial resources and existing cash should allow us to execute our growth strategy focused on commercializing and further developing our proprietary molecular diagnostics technology," Jean-Frederic Viret, CFO of privately held XDx said in a statement.

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