By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Australian genetic test development firm Genetic Technologies said today it has completed a financing round that raised A$11.7 million (US$12.7 million).

The funds were raised through a private placement of 60 million new shares at A$.195 per share to institutional and private investors in Australia and the US. The offering was oversubscribed and 12 new institutional investors participated in the placement, Genetic Technologies said.

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