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CardioDx Raises $20M; Inks Specimen Draw Agreement With Quest

NEW YORK (GenomeWeb) – CardioDx today announced an agreement enabling specimens to be drawn at Quest Diagnostic's facilities for testing with CardioDx's Corus CAD obstructive coronary artery disease test. 

The Redwood City, California-based firm also announced a $20 million private financing round. 

As part of the multiyear agreement with Quest, clinicians will be able to order blood draws on patients for testing through Quest's 2,200 patient service centers and 4,000 phlebotomists in physician offices in the US. Testing of the samples will be conducted at CardioDx's CLIA-certified laboratory. 

Corus CAD is a gene expression-based test for assessing non-diabetic patients who display symptoms suggestive of obstructive CAD. Combined with other clinical information, the test provides clinicians with a tool to determine if a patient's symptoms are the result of obstructive CAD. 

Financial terms of the deal were not disclosed. 

According to Patrick Plewman, general manager of Quest's cardiovascular, metabolic, and endocrinology clinical franchise, the Corus CAD test complements his firm's diagnostic tools for assessing the risk of cardiovascular disease and personalizing treatment. "The addition of this test to our offering provides a new avenue to generate value from Quest's uniquely large network of patient service centers and in-office phlebotomists in theUnited States," he said. 

CardioDx also announced a $20 million financing round. Participants in the round included Solar Capital and Silicon Valley Bank, as well as current investors. The financing follows a $35 million raise in December by CardioDx. Shortly afterward, the firm withdrew a planned initial public offering to raise as much as $92 million.