Daily News: March 7, 2018

Innovatus Provides $23MM Term Loan to Biodesix

Innovatus Capital Partners provided a $23 million term loan in a debt refinancing agreement with Biodesix, a molecular diagnostics company that develops and commercializes non-invasive, blood-based diagnostic tests for oncology. Biodesix simultaneously increased the size of its offering of its series G preferred shares in a follow-on sale.

The company will use the additional capital for the continued development of new blood-based diagnostic tests for clinical use with immunotherapies, as well as the continued expansion of the company’s offering of its commercialized VeriStrat® and GeneStrat® tests.

“We are pleased to add a new lender to our distinguished investor group,” said David Brunel, chief executive officer of Biodesix. “Innovatus Capital Partners has significant expertise in healthcare and a strong record in the diagnostic space and we are proud to have their backing.”

“We are proud to support Biodesix in its pursuit of providing innovative diagnostic tests for patients with lung cancer,” said Claes Ekstrom, managing director of Innovatus. “We look forward to forging a long-term relationship with the outstanding team at Biodesix as they continue to develop and provide solutions to save patient lives.”