NEW YORK – Exagen today announced it has closed a financing round that raised $22.6 million.
The funds will go toward ongoing commercialization of the Vista, California-based firm's autoimmune tests and therapeutics promotion business, Exagen said.
Healthcare equity investment fund HIG BioHealth Partners — which is affiliated with HIG Capital — led the financing, which also included additional funds raised earlier this year from existing investors including Tullis Health Funds, Sun Mountain, and Hunt Holdings. In a statement, Exagen CEO and President Ron Rocca said that partnering with HIG will enable the company to deliver diagnostic, prognostic, and monitoring tests and to continue growing its pipeline development and pharmaceutical partnerships.
Exagen's flagship test is Avise CTD, an autoimmune rheumatic disease test to aid physicians differentially diagnose systemic lupus erythematosus.