Daily News: November 30, 2018

Oxford Finance Closes $25MM Term Loan for Karius

Oxford Finance closed a $25 million senior secured term loan with Karius, a life science company focused on transforming infectious disease diagnostics with genomics.

The funds will be used to expand the reach of the Karius technology to more hospitals and patients, invest in additional clinical studies and fund additional technology and product innovations.

“Karius’ ability to provide quick and accurate information on a broad range of pathogens to doctors is a major advancement in infectious disease diagnostics,” said Christopher A. Herr, senior managing director at Oxford. “Oxford is pleased to provide the working capital to aid in Karius’ build out of its commercial team as it works to expand its test in the US market.”

The Karius Test is a plasma-based next-generation sequencing test to help clinicians rapidly diagnose infectious diseases. It allows precise, broad-based detection against 1,000+ bacteria, DNA viruses, fungi, molds, and protozoa from a single non-invasive blood draw.

“Oxford Finance realizes Karius’ potential to transform the diagnostic landscape for infectious diseases. Our goal is to help save the lives of as many patients as possible by improving the diagnosis of infections. This capital will enable Karius to help more patients by expanding its reach,” said Mickey Kertesz, Karius CEO.

Oxford Finance is a specialty finance firm which provides senior secured loans to public and private life sciences and healthcare services companies worldwide.