Biodesix Inc., a fully integrated molecular diagnostic company dedicated to personalizing medicine, has closed a structured debt financing with Capital Royalty Partners LP, providing the company with up to $20 million of capital.

The investment will be used for ongoing development of the company’s technology platform and expansion of sales and marketing efforts to support Biodesix’s first product, VeriStrat. VeriStrat is a serum protein test that helps physicians guide therapy for patients with advanced non-small cell lung cancer.

“Our investment in Biodesix is consistent with our focus on providing financing options for growing companies with commercial technologies,” said Charles Tate, chairman of Capital Royalty LP. “We are excited about the commercial opportunity for VeriStrat, as well as the future application of Biodesix’s technology platform.”

Biodesix discovers, develops and commercializes multivariate protein diagnostics based on its proprietary mass spectrometry-based discovery platform. VeriStrat, a multivariate serum protein test, is Biodesix’s first product developed with this technology. The commercially available test provides oncologists with information to help them select between erlotinib and single-agent chemotherapy for advanced lung cancer patients. Tests are processed in Biodesix’s CLIA-certified laboratory and results are reported in less than 72 hours.

In addition to developing novel diagnostics independently, the company also partners with biotechnology and pharmaceutical companies to develop companion diagnostics to improve utility of therapeutic agents.

“Capital Royalty’s financing structure has been uniquely tailored to suit our capital needs, especially during this growth phase of our company,” said David Brunel, CEO of Biodesix. “Their breadth of experience in the healthcare industry and deep knowledge of our business has convinced us that they are the right partner for us going forward.”

Capital Royalty LP is a market pioneer and innovator in healthcare investing focused on intellectual property investments in approved products. Headquartered in Houston, with offices in Boulder, Colo., and New York City, the firm is actively making investments through Capital Royalty Fund II, which has $805 million of committed capital.

For additional information, visit Biodesix and Capital Royalty.