GenomeDx Biosciences announced it has secured expansion financing from CRG, a premier healthcare investment firm, in the form of a senior secured term loan.

"We are pleased to have the support of CRG, an investment partner renowned for its strategic investments in healthcare," said Doug Dolginow, CEO of GenomeDx. "This financing provides us with the opportunity to further our strategic growth initiatives and enables further commercial expansion of our Decipher® franchise of genomic solutions."

"We believe that GenomeDx's application of genomics to solving clinical challenges in oncology is second-to-none," said Charles Tate, Chairman and Founder at CRG. "The company's approach to whole genome profiling of patients suffering from prostate and other urologic cancers will be an important driver in shaping the future of precision medicine. The level of clinical evidence and commercial value already demonstrated by the Decipher® Prostate Cancer Classifier gives us confidence to invest in the next phase of growth for GenomeDx."

GenomeDx Biosciences is focused on transforming cancer patient care by putting usable genomic information in the hands of patients and their physicians. GenomeDx is developing and commercializing Decipher®, a highly validated genomic test for predicting metastatic disease in men with prostate cancer. I

Founded in 2003, CRG (previously known as Capital Royalty L.P.) is a healthcare-focused investment firm with over $2 billion of assets under management that provides capital to healthcare companies primarily through structured debt and senior secured loans. CRG works across the spectrum of life science products and technologies and targets investment sizes ranging between $20 million and $200 million.