CardioDx - Top 10 medical device VC deals, H1 2011

Company: CardioDx
Based: Palo Alto, CA
Amount: $60M

Investors: Longitude Capital Management, JPMorgan Partners, Acadia Woods Ventures, Artiman Ventures, Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures, TPG Biotech, Pappas Ventures, DAG Ventures, and Asset Management Company

Scoop: CardioDx's $60 million in venture funding will be used to expand reimbursement coverage in the U.S. for Corus CAD, CardioDx's blood-based gene expression test for obstructive coronary artery disease, and to continue development of future products in the field of cardiovascular genomic diagnostics.

"With a simple blood draw, CardioDx's Corus CAD test provides actionable information regarding the diagnosis of cardiovascular disease that helps physicians make better decisions, patients avoid unnecessary procedures and radiation exposure, and payers address a major expense category," said Patrick Enright, managing director at Longitude Capital, who has joined the company's board of directors. "We are thrilled to work with the experienced team at CardioDx and to help the company become a major player in the field of cardiovascular disease diagnostics."

Last year, GE Healthcare formed an alliance with CardioDx to co-develop diagnostic technologies to improve the care and management of patients with cardiovascular disease. Building on that alliance, the GE Healthymagination Fund, a new equity fund that makes investments in highly promising healthcare technology companies, invested $5 million in CardioDx as part of a Series D round.

CardioDx - Top 10 medical device VC deals, H1 2011