Regions

(August 6, 2014) Response Genetics recently closed a credit agreement with SWK Funding for a multi-draw loan term of up to $12 million. The creditor has advanced the company $8.5 million, which is due on July 30, 2020, while the rest can be withdrawn once predetermined revenue milestones are reached.  

Proceeds from the non-diltuive financing is expected to provide the company with the funding it needs for international expansion, and execute growth initiatives on its newly launched ResponseDX: Tissue of Origin Test.

Response Genetics is an innovative and rapidly growing life sciences company engaged in the research and development of clinical diagnostic tests for cancer. It aims to provide timely, accurate and validated molecular testing services to physicians and their patients, that would enable personalized cancer treatment based on genetic analysis. It is fully licensed and accredited by the Clinical Laboratory Improvement Amendments (CLIA) and College of American Pathologists (CAP). 

SWK Funding is a wholly-owned subsidiary of SWK Holdings Corporation. According to CEO Brett Pope, they are very impressed with Response Genetics and are excited about supporting the company's efforts in bringing molecular diagnostics tests to patients.