Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
XDx: Funds raised in a recent $26.5 mil. Series D financing, led by Duff, Ackerman & Goodrich, will be used to expand sales and marketing for XDx' AlloMap molecular expression testing technology. The non-invasive test measures gene expression in a patient's blood to prevent physicians from transplanting organs that are genetically incompatible to their recipient. XDx launched the test for use in assessing a heart transplant patient's risk of rejection in January 2005 (1"The Gray Sheet" Jan. 3, 2005, p. 17). A portion of the funds also will support the development of a lung-transplant rejection test, expected to launch in the first half of 2007, as well as an autoimmune indication for its molecular diagnostic. The San Francisco, Calif.-based firm is looking to partner with a pharmaceutical or biotech company, according to CFO Vikram Jog. XDx' technology would be used to identify biomarkers for drug development...
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Financings In Brief
Remon Medical Technologies: Waltham, Mass. concern announces close of oversubscribed $26 mil. Series C financing, which will help expand U.S. presence of its wireless, intra-body communication technology for use in therapeutic products. First-time investors in the financing round include Guidant, Triathlon Medical Ventures and Medica Venture Partners. Guidant previously incorporated Remon's interactive sensor technology into its Ancure abdominal aortic aneurysm endograft (1"The Gray Sheet" Feb. 18, 2002, In Brief). Other major Remon financiers include Polaris Venture Partners, Concord Ventures, Lilly Ventures, KBL Healthcare Ventures and Ofer Hi-Tech. The privately held firm intends to commercialize its communication technology through a mixture of internal efforts and external strategic collaborations. Remon is now conducting clinical trials of its Impressure device, which offers an on-demand, non-invasive way to monitor intra-aneurysm pressures after endograft procedures. The firm's HeartLook device for measuring pulmonary artery pressure is also under investigation...
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