Caris gets $400M loan from Or­biMed and Braid­well; blue­bird stock sales brings in $120M

Can­cer di­ag­nos­tic com­pa­ny Caris Life Sci­ences an­nounced it is get­ting a $400 mil­lion loan from life sci­ence in­vest­ment funds Or­biMed and Braid­well.

Caris said it will use the mon­ey to “re­pay out­stand­ing debt, en­hance its pi­o­neer­ing pre­ci­sion med­i­cine plat­form, and for gen­er­al cor­po­rate pur­pos­es.”

Or­biMed pre­vi­ous­ly took part in Caris’ $830 mil­lion eq­ui­ty round.

Ear­li­er this month, Caris teamed up with Con­cer­tAI for a deal to de­vel­op a plat­form that can help de­sign clin­i­cal tri­als for new drugs. In June, Caris paid $2.8 mil­lion to set­tle al­le­ga­tions that it had im­prop­er­ly billed Medicare for can­cer lab tests.

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