Albuquerque, N.M.-based Exagen Diagnostics has raised $25 million in debt financing with a strategic investment from Capital Royalty Partners. The healthcare startup focuses on molecular testing innovations in rheumatology diagnostics, including rheumatoid arthritis and lupus, with its Avise line. Sales success attracted the investor.
“The company has shown tremendous sales success with their lead product, Avise SLE+, and continues to have significant opportunities for future growth,” Luke Duster, principal at Capital Royalty Partners, said in a press release.
The Albuquerque Journal reports:
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Exagen, a homegrown, venture-backed medical diagnostics firm, will use the money to grow its marketing team and expand sales nationwide for the company’s flagship product – a proprietary test for lupus and other autoimmune illnesses, said President and CEO Ron Rocca.
“We’re now fully capitalized,” Rocca told the Journal. “We shouldn’t need to raise any more money after this.”
The 11-year old company’s equity investors include Tullis Health Investors, Sun Mountain Capital, Cottonwood Capital Partners, EPIC Ventures and Mesa Verde Venture Partners.
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