CardioDx, a US-based provider of healthcare diagnostics backed by General Electric, has raised $57.5m in its latest round that is targeting $78.3m, according to a regulatory filing earlier in the month.
News provider VentureWire said venture capital firm Longitude Capital was leading CardioDx’s series E round (which it said was raising $40m).
In May, US-based conglomerate General Electric made its first investment out of its new corporate venturing fund with $5m backing of California-based CardioDx.
The CardioDx investment was made out of the $250m GE Healthymagination fund and is part of a larger round, which a regulatory filing, seen by news provider www.pehub.com, suggests could be worth more than $45.5m.
The GE Healthymagination fund was launched in October 2009 to identify and partner with healthcare technology companies as part of a $6bn program by GE to boost healthy living.
GE Healthcare has made between 25 and 30 minority stake investments in the past 12 years and was introduced to CardioDx by the company’s original backers, US venture capital firm Kleiner Perkins Caufield & Byers, five years ago.
However, GE Healthcare has also worked closely with another of CardioDx’s backers, TPG Biotech, a life sciences investment arm of private equity firm TPG Capital where CardioDx’s founder, David Levison, used to work as a venture partner.
CardioDx’s other shareholders include, Intel Capital and US VCs Mohr Davidow Ventures, DAG Ventures and Pappas Ventures.
Intel previously led CardioDx’s series C round of $20m in 2009 while Mohr Davidow Ventures invested $9m as part of a $19m Series B in 2006, according to VentureWire.