Fresh off Medicare win, CardioDx lines up $58 million financing round

CardioDx Inc. lined up $58 million in a two-tranche round – about $30 million now and the remainder later this year – as it expands following recently won Medicare coverage of its heart disease diagnostic test. Singapore-based investor Temasek joined a slew of existing CardioDx backers, including Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures, TPG Biotech and GE Capital, in the financing, the Palo Alto company said Monday.

XDx heart transplant test wins 'medically necessary' tag from Aetna

Molecular diagnostics company XDx Inc. won an important victory as national insurance provider Aetna Inc. determined that the Brisbane company’s heart transplant test is “medically necessary” more than one year after a transplant.
Aetna’s (NYSE: AET) decision would likely help validate the AlloMap test further, and that has an impact on cash flow and the bottom line. Notably, 89-employee XDx often has to appeal each test when insurers initially say they won’t pay for it. Sometimes that goes all the way to an administrative judge.