NEW YORK (GenomeWeb) – Biodesix said today it has increased the size of its offering of Series G preferred shares in a follow-on sale, and has simultaneously entered a debt refinancing agreement with Innovatus Capital Partners for a $23 million term loan.
The company said it plans to use the additional capital to fund development of blood-based tests for guiding use of cancer immunotherapies, as well as to further the commercialization of its VeriStrat and GeneStrat lung cancer tests.
Biodesix also announced that Scott Hutton has joined the firm as chief operating officer. Hutton previously served as senior vice president and general manager of Spectranetics. Before that he was vice president and general manager of Medtronic’s neurosurgery unit.