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Oxford Finance Provides $25MM Senior Debt Facility to Karius

November 30, 2018, 07:15 AM
Filed Under: Life Sciences

Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced the closing of a $25 million senior secured term loan with Karius, Inc., a life science company transforming infectious disease diagnostics with genomics. The funds are being 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. Through Karius' CAP-accredited and CLIA-certified laboratory service, the test empowers doctors to diagnose infections quickly and provide more targeted treatment to their patients.

"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, chief executive officer at Karius.


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