Castle Biosciences, Inc., a Friendswood, TX (Houston)-based provider of molecular diagnostics to improve cancer treatment decisions, received a $14m overall credit facility from Silicon Valley Bank.
The facility refinances the existing $6m growth term loan, adding $2m in new growth capital and a new $5m accounts receivable revolver.
The new capital will be used to accelerate growth of its cutaneous melanoma test, DecisionDx™-Melanoma, and support its maturing molecular diagnostic pipeline.
Led by Derek Maetzold, President and CEO, Castle Biosciences is a molecular diagnostics company that currently offers tests for patients with uveal melanoma and cutaneous melanoma, with development programs in other underserved cancers.
The company also has laboratory operations in Phoenix, AZ.
FinSMEs
28/03/2016