NewswireToday - /newswire/ -
Bethesda, MD, United States, 2011/01/28 - GE Capital, Healthcare Financial Services announced today that it has provided, as sole lender, a $12.5 million senior secured multi-draw term loan facility to XDx, Inc. (“XDx”) (NYSE: GE). NYSE: GE
The financing provides XDx with working capital to expand the commercialization of its FDA-cleared, innovative, noninvasive AlloMap® molecular diagnostic test and pursue the development of other gene expression-based tests for autoimmune diseases including lupus.
XDx is a San Francisco Bay Area-based molecular diagnostics company focusing on non-invasive gene expression-based tests for the monitoring of organ transplant rejection and autoimmune diseases.
"GE Capital, Healthcare Financial Services has been a supportive financing resource, creating a deal structure specific to our long-term commercialization strategy, " said Jean-Frederic Viret, PhD, XDx’s chief financial officer.
“We are pleased to provide capital to XDx to help them expand the commercialization of the FDA-cleared AlloMap® molecular diagnostic test, ” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “Our combination of healthcare and financial expertise enabled us to provide XDx with the best financing solution to meet their overall business objectives.”
About GE Capital, Healthcare Financial Services
With over $17 billion invested in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. The Life Science Finance team has worked with more than 500 companies throughout the United States, Canada and Europe. With a dedicated focus on assisting life science companies large and small, from the first venture round to post-IPO, the team has provided over $2.5 billion in financing to the market. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter ([.]GECapital). GE (ge.com) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges.