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GeneLink Raises $2.4M in Private Placements

NEW YORK (GenomeWeb News) – GeneLink today said that it has raised $2.4 million through two private placements of its stock.

The consumer genomics firm said that it closed the first placement in January and the second one on Feb. 27. According to the firm's CEO, Monte Taylor, funding came from shareholders of GeneLink, which is publicly traded on the OTC Bulletin Board, marketing affiliates of GeneWize Life Sciences, and "arms-length" financial investors.

GeneWize is a wholly owned subsidiary of Orlando, Fla.-based GeneLink and is focused on marketing nutritional supplements and skincare products specifically tailored to an individual's genetic makeup.

Taylor said in a statement that the funds from the private placements would be used to "upgrade the infrastructure of GeneWize to enable us to support the anticipated demand for our products and services."

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