According to the company tagline “Personalized Treatment Surveillance. Better Outcomes.” CareDX, Inc. is a molecular diagnostic company which is known for its AlloMap service that monitors patients with heart transplants. Current focus is on expanding the AlloMap line of blood-test products with cfDNA for Heart and cfDNA Kidney – potentially changing the lives of millions of transplant patients worldwide.
Key of the company is ‘gene expression profiling,’ using the best of semiconductor industry to analyze blood cells on a molecular level, in order to identify gene activity in various types of blood cells. By building patient maps, doctors can research and predict how a patient is reacting to treatment, inflammation or activation of immune system (to predict possibility of organ rejection).
The technology CareDX, Inc. utilizes made the company an interesting investment target. CareDX posted second quarter results reporting $7.1 million in revenue (5% YoY growth), with a record 3,250 AlloMap results processed. Total revenue for 2015 is expected to be in 25 to 30 million dollar range, while they reported a net loss of $3.2 million, citing “The loss in the second quarter of 2015 is due to increased spending for research and development on a cell-free DNA product and increased marketing and related expenditures.”
Given that expanding the company and launching hardware products is something that CareDX will have to go through, we were not surprised to see Intel Corporation, Inc. making an investment in the company before IDF 2015 opens its doors on August 18-20, 2015 in Moscone Center in San Francisco. Intel purchased 590,720 Common Stocks, or 5% of the voting rights. The Common Stocks were valued at $0,001, while the company trades its shares at $6.41, with market capitalization of $75.76 million.
It will be interesting to see how CareDX will develop, with Intel taking a 5% stake. Any hardware solutions on the horizon?