Venture capital backers of personalised medical genetics business Assurex Health have invested $7m as part of a $32m equity and credit financing round.
Silicon Valley Bank and GE Capital Healthcare Financial Services provided the $25m revolving credit facility alongside re-ups from firms including Sequoia Capital, Claremont Creek Ventures, Allos Ventures and Danmar Capital.
The company provides individualised genetic information to help physicians pick the right medication for patients suffering ailments including depression, anxiety, chronic pain, ADHD and other neuropsychiatric disorders.
Assurex CEO James Burns said, “We are delighted to have GE Capital lead this financing. Together with continuing financial support from Silicon Valley Bank, we have great partners to help support the rapid growth of Assurex Health.
“Our mission is to help clinicians improve the treatment outcomes of patients.
“We are committed to being the leader in neuropsychiatric pharmacogenomics and will continue adding proven genetic variants and new medications to enhance our GeneSight products.
“With the additional funding this facility provides, we can continue to support our growth trajectory.”
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