Skip to main content
Premium Trial:

Request an Annual Quote

Genizon Raises $10.6M in VC Debt Financing; Partner Illumina Ponies Up $3M

NEW YORK, March 29 (GenomeWeb News) - Genizon has raised CA$12.4 million ($10.6 million) in a first tranche of a secured convertible debenture financing, the company said today.


The company will use the cash to "substantially add to its inventory of GeneMaps and drug targets directly implicated in common diseases," John Hooper, president and CEO of Genizon, said in a statement.


Investors in the round include HBM Bioventures, Biofund Management, MVI Finance and Carnegie, as well as Genizon management, directors and employees, private investors, and partner Illumina, which ponieed up CA$3.5 million and certain warrants, according to an SEC filing today.


As GenomeWeb News reported earlier this year, Genizon will use Illumina's whole-genome genotyping platform for its disease-association research program.

The Scan

Another Resignation

According to the Wall Street Journal, a third advisory panel member has resigned following the US Food and Drug Administration's approval of an Alzheimer's disease drug.

Novavax Finds Its Vaccine Effective

Reuters reports Novavax's SARS-CoV-2 vaccine is more than 90 percent effective in preventing COVID-19.

Can't Be Used

The US Food and Drug Administration says millions of vaccine doses made at an embattled manufacturing facility cannot be used, the New York Times reports.

PLOS Papers on Frozen Shoulder GWAS, Epstein-Barr Effects on Immune Cell Epigenetics, More

In PLOS this week: genome-wide association study of frozen shoulder, epigenetic patterns of Epstein-Barr-infected B lymphocyte cells, and more.