Temasek with Other Investors Park Money into CardioDx
Singapore’s Temasek Holdings along with other backers such as Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures, TPG Biotech and GE Capital committed up to US$ 58 million in CardioDx Inc. in two-tranche equity financing. The investment round includes US$ 30 million currently, and the rest possibly near the end of the year.
In recent news, CardioDx Inc won Medicare coverage for its heart disease diagnostic test.
According to a recent press release by CardioDx, “this funding positions CardioDx well to capitalize on the significant opportunity to improve the diagnosis of the millions of patients who visit their physicians with symptoms suggestive of obstructive coronary artery disease each year,” said David Levison, the company’s President and Chief Executive Officer. “The favorable Medicare coverage decision that we received earlier this month is a significant milestone that further validates the clinical benefit of and economic rationale for Corus CAD. This additional capital will help us expand our sales force in the U.S., further broaden reimbursement coverage, and support continued investments in research and development of new products.”
Other investors in the round were:
- Longitude Capital
- Artiman Ventures
- J.P. Morgan
- Acadia Woods Partners
- Intel Capital
- Bright Capital, the VC arm of RU-COM
- Pappas Ventures
- DAG Ventures
- Asset Management Group