A Medical Device Daily

PrimeraDx (Mansfield, Massachusetts), a privately held molecular diagnostics company, reported that it has closed on its $20 million Series C financing. The financing was led by CHL Medical Partners (Stamford, Connecticut) and also included significant participation by many of the company's existing investors; Abingworth (London), InterWest Partners (Menlo Park, California), Malaysian Technology Development Corporation, MPM Capital (Boston), Burrill & Company (San Francisco), and the Invus Group (New York).

"We are very excited to welcome CHL Medical Partners into the company and we appreciate the very strong support of our existing investors. Our ability to attract new capital in this difficult economic climate is a clear endorsement of our technology, the markets that we will soon address, and the talent and the dedication of all of PrimeraDx's employees," said Martin Verhoef, president/CEO of PrimeraDx. "We will use this funding for the continued commercialization of our technology, including the advancement of our regulatory strategy and the broadening of quantitative, multiplexed assay menu to run on our ICEPlex system."

In other financing activity, GE Capital's (Eden Praire, Minnesota) Healthcare Financial Services business said it ended the first six months of 2009 as one of the most active capital providers in the U.S. healthcare market, deploying roughly $1 billion for more than 45 transactions. Loans were used to refinance existing debt, support working capital needs and fund growth initiatives.

"Our primary focus this year has been to provide customers with tailored financing solutions to help them navigate the current economic cycle and meet business objectives," said Darren Alcus, president of GE Capital, Healthcare Financial Services. "It's an encouraging sign for the industry that demand for financing to support acquisitions, capital improvement projects and other growth initiatives has continued."