By E. Janene Geiss
Philadelphia, Jan. 5 - XDx Inc. raised $26.5 million in a new round of financing that, on completion, values the company at more than $115 million.
Duff, Ackerman & Goodrich was the lead investor. Other investors included Intel Capital and all previous investors, Kleiner Perkins Caufield & Byers, Texas Pacific Group Ventures, the Sprout Group (managed by New Leaf Venture Partners), Burrill & Co., Integral Capital Partners and Bay Area Equity Fund (managed by JP Morgan).
The recent round of financing follows numerous company milestones for its first product to market, AlloMap molecular expression testing, according to a company news release.
AlloMap testing is a proprietary new method for non-invasively monitoring the immune system by measuring gene expression in a patient's blood.
From a simple blood draw, the test enables physicians to determine a heart transplant patient's risk of rejection.
At the close of 2005, the AlloMap test was in use at 11 transplant centers in the United States with several new centers expected to adopt the test in early 2006.
XDx said it received Clinical Laboratory Improvement Amendments certification in November 2004 and launched AlloMap testing in January 2005.
AlloMap testing was clinically validated at eight of the leading transplant centers, accounting for about 22% of the yearly U.S. heart transplant population in a four-year clinical trial. Results of the study were published in the January 2006 issue of the American Journal of Transplantation.
"XDx has established a leadership role in molecular diagnostics and personalized medicine, with a unique technology that will significantly improve patient care and outcomes," John Cadeddu of Duff, Ackerman & Goodrich said in the release.
The company said it is currently conducting clinical studies for the technology in other transplanted organs and various autoimmune diseases.
Founded in 2000, Xdx is a molecular diagnostics company based in South San Francisco, Calif.
XDx said it is one of the first companies to develop and commercialize practical applications built on insights from the Human Genome Project. The company has developed a proprietary new method for non-invasively monitoring the immune system by measuring gene expression in a patient's peripheral blood.
| Issuer: | XDx Inc.
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| Amount: | $26.5 million
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| Investors: | Duff, Ackerman & Goodrich (lead), Intel Capital, Kleiner Perkins Caufield & Byers, Texas Pacific Group Ventures, the Sprout Group (managed by New Leaf Venture Partners), Burrill & Co., Integral Capital Partners, Bay Area Equity Fund (managed by JP Morgan)
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| Announcement date: | Jan. 5
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