Thursday, February 28, 2013

Ignyta Raises $1M In Venture Debt

San Diego-based personalized medicine developer Ignyta has raised $1M in funding, via a capital term loan from Silicon Valley Bank, the company disclosed this morning. The firm--which is focusing on treating rheumatoid arthritis (RA), lupus and other autoimmune diseases, said the new $1M capital term loan facility comes on top of an existing, $500K facility it has with SVB. Financial details of that term loan were not disclosed. Ignyta is venture backed by Colt Ventures, City Hill Ventures, and others.

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