Oxford Finance has announced a $15 million round of debt financing for XDx. Silicon Valley Bank acted as co-lender in this transaction. XDx is based in Brisbane, California and is a molecular diagnostics company. Proceeds of the loan will be used for working capital and to fund the development of new diagnostic applications.
Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced a $15 million round of debt financing for XDx, Inc. Silicon Valley Bank acted as co-lender in this transaction. Proceeds of the loan will be used for working capital and to fund the development of new diagnostic applications using XDx’s molecular expression technology.
“XDx is a pioneer in the field of molecular diagnostics,” said Christopher A. Herr, managing director for Oxford Finance. “The company is very growth-oriented, and Oxford is pleased to provide capital to support XDx’s efforts to develop new high clinical impact, non-invasive diagnostic tests in the fields of autoimmunity and organ transplant.”
“Silicon Valley Bank is committed to providing financial solutions to innovative life science companies, and we are pleased to support XDx’s plans for future growth,” said Dave Sabow, senior relationship manager for Silicon Valley Bank’s Life Sciences practice. “The diagnostic solutions offered by XDx benefit patients and the healthcare system as a whole, and we look forward to a continued, strong relationship.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina.
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 U.S. offices and seven international operations.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
About XDx, Inc.
XDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of non-invasive tests for the monitoring of transplant rejection and autoimmune diseases. The company has developed AlloMap® Molecular Expression Testing, an FDA- cleared test, which provides transplant physicians with a tool to aid in the determination of the probability of acute cellular rejection for post-cardiac transplant patient management. AlloMap is marketed directly by XDx in the United States and has received marketing authorization in the European Union. Some of the AlloMap technology may be applicable to other conditions that involve transplant rejection and diseases that affect the immune system, and XDx is currently developing a lupus flare predictor test in collaboration with LabCorp. XDx’s non-invasive technology offers the potential to decrease healthcare costs and improve the quality of life for patients with a variety of life-threatening or life-altering immune-mediated diseases.
SOURCE Oxford Finance LLC