NexDx Raises $2.6 million in Series B Financing and Capital Term Loan
News Jul 03, 2012
NexDx, Inc. has announced the successful closing of a $2.1 million Series B financing led by founding investor, City Hill Ventures, LLC, and a $500,000 capital term loan from Silicon Valley Bank.
“This financing by City Hill Ventures, Silicon Valley Bank, and other investors is strong validation of NexDx’s approach to transforming the quality of biomarkers and tests for rheumatologists, patients, and biopharmaceutical companies,” said Jonathan Lim, M.D., NexDx’s Chairman and CEO.
Lim continued, “More importantly, it provides NexDx with sufficient capital to advance the development of our technology platform and tackle the important issue of improving the diagnosis of patients with rheumatoid arthritis, an area of significant unmet medical need.”
“We are excited to partner with NexDx and provide them with the financing they need to develop and grow their solution for rheumatoid arthritis and other autoimmune diseases,” said Mike White, senior relationship manager at Silicon Valley Bank.
White continued, “Silicon Valley Bank is committed to providing life science companies at all stages of growth with the right financial products and services for their specific needs. We look forward to building a longstanding relationship with the NexDx team.”
Birch pollen allergic rhinitis is the most common chronic disorder in the Northern part of the globe, and it attributes to significant morbidity and economic burden. According to a new study, pollen allergen immunotherapy has favorable effects on the molecular events and microbiome profile in the nasal membrane.READ MORE