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The company has raised $30 million to date to fund development and commercialization of its molecular diagnostic test to predict response to anti-TNF therapies.
Takeda said that the tool evaluates risk for developing complications associated with Crohn's disease and helps support personalized clinical decision-making.
The firm is adding data on patient risk for radiographic progression and cardiovascular events to the test, which was recently included in the ACR guidelines.
Following its IPO in September, the company is expanding its presence with increased product offerings in the pipeline and a renewed focus on reimbursement and R&D.
The grant will support the development of a high-throughput method to extract and test dried blood samples collected by patients at home.
The firm, which went public in September said that full-year 2019 revenues are expected to be between $40 million and $431 million.
Under the deal, KSL will commercialize and facilitate orders of the PredictSURE IBD test throughout North America and will also process all samples through its laboratory, KSL Diagnostics.
The investment banks cited the company's access to proprietary technology and the potential $5 billion market for Exagen's testing options as reasons for its Outperform rating.
The firm is conducting clinical trials in preparation for applying for FDA clearance to market its POC instrument and first assay in the first quarter of next year.
The device is intended for preparation of stool samples and use with Buhlmann's Fcal Turbo calprotectin test.
The firm said it anticipates launching the platform in Europe next year and completing its first round of external financing in the first quarter of 2020.
Exagen, which develops and markets autoimmune tests, went public on the Nasdaq today and expects gross proceeds of $50.4 million from its IPO.
Under the expanded deal, PredictImmune will have first right of refusal on technologies for predicting disease outcome for systemic lupus erythematosus.
The immune sequencing firm is working on kit-ifying its two existing tests, as well as developing a second clinical test and expanding the label for clonoSeq.
The merger is aimed at expanding Salveo’s diagnostics capabilities and improving communication with providers and patients.
The combined company will offer laboratory testing and digital technologies for diagnosing and managing lupus, multiple sclerosis, and other autoimmune diseases.
Last year, the Oklahoma City-based firm raised $1.25 million in investment funding and acquired health management platform LupusCorner.
The financing will go toward ongoing commercialization of the firm's autoimmune tests and therapeutics promotion business.
The test uses turbidimetry to measure levels of fecal calprotectin, a neutrophilic protein biomarker of intestinal mucosal inflammation.
The immunoassays are are indicated for the quantitative determination of IgM RF antibodies and the semi-quantitative determination of IgA RF antibodies.