Pacific Western Bank provided a $25 million debt facility to existing client, Truvian Sciences, a healthcare company paving the way in the blood testing industry with its automated diagnostic system that provides lab-accurate results at point-of care. The company will utilize the facility to accelerate growth initiatives and to further advance the development of its automated benchtop blood testing system.
Based in San Diego, Truvian is dedicated to improving healthcare by offering convenient and affordable routine health testing that requires one small blood sample and delivers results in minutes. With the company’s automated blood testing system, patients receive accurate health insights, allowing for informed healthcare decisions. Truvian’s technology is on track to change the way blood testing is conducted, lowering patient cost and democratizing patient’s healthcare data. The company was founded in 2015 and is backed by Domain Associates, GreatPoint Ventures and several other venture funds.
“We are proud to continue our partnership with Pacific Western Bank. They have been an important partner to Truvian from the very early stages of our development and have always understood the long-term potential of the product and business we are building,” Jeff Hawkins, president and CEO of Truvian, said.
“Pacific Western Bank is fortunate to continue our strong relationship with Truvian by providing additional debt capital on the heels of their $105 million Series C financing round,” Scott Foote, head of Pacific Western Bank’s west life sciences practice, said. Truvian’s revolutionary blood testing system will make routine blood tests convenient, affordable and actionable for patients addressing a very large market.”