GenomeDx Biosciences announced it has secured expansion financing from CRG, a healthcare investment firm, in the form of a senior secured term loan.

“We are pleased to have the support of CRG, an investment partner renowned for its strategic investments in healthcare,” said Doug Dolginow, CEO of GenomeDx. “This financing provides us with the opportunity to further our strategic growth initiatives and enables further commercial expansion of our Decipher franchise of genomic solutions.”

“We believe that GenomeDx’s application of genomics to solving clinical challenges in oncology is second-to-none,” said Charles Tate, chairman and founder at CRG. “The company’s approach to whole genome profiling of patients suffering from prostate and other urologic cancers will be an important driver in shaping the future of precision medicine. The level of clinical evidence and commercial value already demonstrated by the Decipher Prostate Cancer Classifier gives us confidence to invest in the next phase of growth for GenomeDx.”

The Decipher test is a unique genomic test for men who have had prostate surgery and are considered by guidelines to be at high-risk for their cancer returning. Decipher predicts the probability of metastasis and helps to guide the need for secondary therapy after surgery.