FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


White Oak Healthcare Finance, Galen Partners Complete Recap of CDx Diagnostics

July 17, 2017, 08:01 AM
Filed Under: Healthcare

CDx Diagnostics, Inc. announced that it has completed a majority recapitalization with Galen Partners, a healthcare-focused growth equity investment firm and San Francisco-based White Oak Healthcare Finance, LLC, who led the debt financing. CDx is a specialized anatomic pathology laboratory that utilizes proprietary technology, including advanced neural-network analysis and deep artificial intelligence tools, to enhance the detection of precancerous and cancerous tissue initially in the esophagus and oral cavity.

Mark Rutenberg, CDx’s Founder and CEO, stated, “We are proud of CDx’s history of creating a unique synthesis of computer science, molecular biology, and pathology to provide clinically proven, breakthrough diagnostic tools that have already prevented over 5,000 typically fatal cancers. All of our tests are immediately available to clinicians, require only a few minutes of practice time, are highly cost effective, widely reimbursed, and, most importantly, address a recognized critical gap in the current diagnostic standard of care that results in thousands of otherwise unnecessary cancer deaths each year. I am confident that with the support and guidance of Galen Partners and White Oak, we will now accelerate our rapid growth in revenue, profitability, and clinical acceptance. More importantly, we will be able to advance our progress in making oral, throat, and esophageal cancer diseases of the past.”

CDx is an established cancer diagnostics laboratory with a specific focus on esophageal and oral cancer. CDx’s mission is to provide doctors with the most powerful diagnostic technology to help prevent cancer before it can start. Esophageal cancer is the most rapidly growing cancer in the US and is generally fatal; early detection of precancerous cells leads to improved patient outcomes all while lowering overall healthcare costs. CDx applies neural-network-based three dimensional microscopy to find dangerous abnormal cells before they are allowed to develop into an invasive cancer, and the Company’s unique WATS3D technology has been shown to be four times more effective than the current standard of care at detecting the most dangerous form of esophageal pre-cancer.

“CDx has developed and patented a proprietary tissue sampling and analysis platform that allows for successful detection of dysplasia in tissue,” said White Oak’s Managing Director and Partner, Isaac Soleimani. “The CDx platform is clinically shown to be more effective at detecting high grade esophageal cancer compared to traditional testing methods, creating the opportunity to become the standard of care.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.