Thursday, August 06, 2009

Biopharma company XDx calls in $14.4m in Series G venture capital round

XDx Inc, a molecular diagnostics company focused on noninvasive gene expression tests for the monitoring of immune-mediated conditions, has completed a $14.4m Series G financing round.

The round was led by global biopharmaceutical company Bristol-Myers Squibb Company, with additional participation from all active previous investors in XDx, including: Burrill Venture Capital; Duff, Ackerman & Goodrich; Integral Capital Partners; Intel Capital; Kleiner Perkins Caulfield & Byers; Sprout Group; and TPG Biotechnology.

Proceeds from this financing will be used to support commercial activities associated with the company’s AlloMap Molecular Expression Testing, and to advance ongoing and new research and development programmes. AlloMap testing provides transplant physicians with a new tool to aid in the identification of the probability of acute cellular rejection for post-cardiac transplant patient management.

“The continued interest and support XDx has received from the venture capital community and now big pharma is a testament to its leadership in molecular diagnostics and personalised medicine,” said Brook H Byers, partner at Kleiner Perkins Caulfield & Byers, and chairman of the board of directors for XDx. “While the overall biotechnology financing environment continues to be challenging, XDx stands out due to the market success of AlloMap and its positive impact on the clinical management of heart transplant recipients. This round also underscores our confidence in the significant potential for the company’s gene expression testing to expand into other areas of transplant medicine, as well as autoimmune diseases.”

XDx is also evaluating its gene expression discovery and development platform for use in other immune-mediated conditions such as Systematic Lupus Erythematosus.

Originally founded in 2000, XDx is based in Brisbane, California.

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