Oxford Finance, SVB Act as Co-Lenders in Financing for XDx
Oxford Finance announced a $15 million round of debt financing for XDx, a molecular diagnostics company. 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.”