ALEXANDRIA, Va. and REDWOOD CITY, Calif., Nov. 29, 2018 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $25 million senior secured term loan with Karius, Inc. (“Karius” or “the Company”), a life science company transforming infectious disease diagnostics with genomics. The funds are being used to expand the reach of the Karius technology to more hospitals and patients, invest in additional clinical studies, and fund additional technology and product innovations.
“Karius’ ability to provide quick and accurate information on a broad range of pathogens to doctors is a major advancement in infectious disease diagnostics,” said Christopher A. Herr, senior managing director at Oxford. “Oxford is pleased to provide the working capital to aid in Karius’ build out of its commercial team as it works to expand its test in the US market.”
The Karius® Test is a plasma-based next-generation sequencing test to help clinicians rapidly diagnose infectious diseases. It allows precise, broad-based detection against 1,000+ bacteria, DNA viruses, fungi, molds, and protozoa from a single non-invasive blood draw. Through Karius’ CAP-accredited and CLIA-certified laboratory service, the test empowers doctors to diagnose infections quickly and provide more targeted treatment to their patients.
“Oxford Finance realizes Karius’ potential to transform the diagnostic landscape for infectious diseases. Our goal is to help save the lives of as many patients as possible by improving the diagnosis of infections. This capital will enable Karius to help more patients by expanding its reach,” said Mickey Kertesz, chief executive officer at Karius.
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $5 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit (http://oxfordfinance.com/).
About Karius, Inc.
Karius is a life sciences company focused on transforming infectious disease diagnostics with genomics and data through the innovative use of next-generation sequencing to analyze microbial cell-free DNA. The Karius laboratory is CLIA-certified and CAP-accredited to perform high-complexity clinical laboratory testing. The company’s genomics platform and clinically-curated pathogen database deliver deep insight into the microbial landscape, providing clinicians with a comprehensive, quantitative test capable of identifying more than a thousand pathogens directly from blood and helping industry accelerate drug development. For more information, visit kariusdx.com and follow us on Twitter at @kariusdx.