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GenoMed Raises $900,000 in Equity Funding

Jan 20, 2004

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.

 

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