Biodesix closes on $20M debt financing with Capital Royalty Partners

By: InnovatioNews Monday January 13, 2014 0 comments Tags: Biodesix, Boulder, Charles Tate, David Brunel, VeriStrat

biodesix logoBOULDER - Biodesix Inc., a fully-integrated molecular diagnostic company focused on personalized medicine, announced it has closed on a structured debt financing with Houston-based Capital Royalty Partners LP.

The transaction will provide Biodesix with up to $20 million in capital, Biodesix said.

"Capital Royalty's financing structure has been uniquely tailored to suit our capital needs, especially during this growth phase of our company," said David Brunel, Biodesix CEO.

"Their breadth of experience in the health care industry and deep knowledge of our business has convinced us that they are the right partner for us going forward."

Biodesix said the investment will be used for ongoing development of the company's technology platform and expansion of sales and marketing efforts to support Biodesix' first product, VeriStrat.

VeriStrat is a serum protein test that helps physicians guide therapy for patients with advanced non-small-cell lung cancer.

"Our investment in Biodesix is consistent with our focus on providing financing options for growing companies with commercial technologies," said Charles Tate, Capital's chairman.

"We are excited about the commercial opportunity for VeriStrat, as well as the future application of Biodesix's technology platform."
InnovatioNews

About the Author: InnovatioNews

InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.