NEW YORK, Jan. 20 (GenomeWeb News) - GenoMed has raised $900,000 in equity financing from Advanced Optics Electronics, the company said today.
In exchange for the investment, Advanced Optics Electronics receives restricted common shares of GenoMed at a 25 percent discount.
GenoMed plans to use the additional cash on research as well as marketing. Last October, the company obtained up to $500,000 in bridge funding.