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GeneNews raises $Cdn7.2mm through private placement

Executive Summary

GeneNews Ltd. (molecular diagnostics for cancer) grossed $Cdn7.2mm ($6.7mm) through the private sale of 7mm common shares at $Cdn1.03, a 13% discount. The company will use the proceeds to help its US-based CLIA lab Innovative Diagnostics Laboratory LLP commercialize blood-based cancer detection products including ColonSentry for colorectal cancer, EarlyCDT Lung for lung cancer, and the PHI (Prostate Health Index) for prostate cancer.
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Biotech
    • Private Placement

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