Castle Biosciences expanded its credit facility with Silicon Valley Bank to $14 million. This facility refinances the existing $6 million growth term loan, adding $2 million in new growth capital and a new $5 million accounts receivable revolver.

“Castle Biosciences is focused on delivering high value tests to improve cancer treatment. This new capital will be used to accelerate growth of our cutaneous melanoma test, DecisionDx-Melanoma, and support our maturing molecular diagnostic pipeline,” said Derek Maetzold, president and CEO of Castle Biosciences.

Friendwood, TX-based Castle Biosciences is a molecular diagnostics company dedicated to helping patients and their physicians make the best possible decisions about their treatment and follow-up care based on the individual molecular signature of their tumor.