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Biodesix, Capital Royalty Close $20MM Financing Transaction

January 13, 2014, 06:55 AM
Filed Under: Medical

Biodesix Inc., a fully integrated molecular diagnostic company dedicated to personalizing medicine, announced that the company closed a structured debt financing with Capital Royalty Partners L.P. The transaction provides Biodesix with up to $20 million of capital.

“Capital Royalty’s financing structure has been uniquely tailored to suit our capital needs, especially during this growth phase of our company,” said David Brunel, Chief Executive Officer of Biodesix. “Their breadth of experience in the healthcare industry and deep knowledge of our business has convinced us that they are the right partner for us going forward.”

The investment will be used for ongoing development of the company’s technology platform and expansion of sales and marketing efforts to support Biodesix’ first product, VeriStrat®. VeriStrat is a serum protein test that helps physicians guide therapy for patients with advanced non-small cell lung cancer (NSCLC).

“Our investment in Biodesix is consistent with our focus on providing financing options for growing companies with commercial technologies,” said Charles Tate, Chairman of Capital Royalty L.P. “We are excited about the commercial opportunity for VeriStrat, as well as the future application of Biodesix’ technology platform.”

Biodesix and VeriStrat are registered trademarks of Biodesix, Inc. All other trademarks are property of their respective owners.

Biodesix is a molecular diagnostics company advancing the development of innovative products for personalizing medicine. The company provides physicians with diagnostic tests for earlier disease detection, more accurate diagnosis, disease monitoring and better therapeutic guidance, which may lead to improved patient outcomes.

Capital Royalty L.P. is a market pioneer and innovator in healthcare investing focused on intellectual property investments in approved products through structures including royalty bonds, secured debt, revenue interests and traditional royalty monetizations.

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