Skip to main content
Premium Trial:

Request an Annual Quote

Lynx Raises $11.1 Million in Private Financing

NEW YORK, May 24 – Lynx Therapeutics said Thursday it had received a cash injection of $11.1 million in a private placement from a group of seven unnamed investors led by HBK Master Fund.

The new funds will help to shore up the companies dwindling resources as it continues developing its products and building its business. As of March 31, 2001, Lynx had $11.9 million in cash and cash equivalents.

The company plans to use the money to “support ongoing commercial, business development, and research and development activities,” including the development of its MegaType and Protein ProFiler technologies, and internal discovery efforts, according to a statement.

The placement included the sale of 1.7 million newly issued shares of common stock at $6.37 per share. On Thursday, Lynx’s stock closed down 58 cents, or 7.1 percent, at $7.56.   

Over the past few months Lynx has reported a handful of deals. Over the past few months Lynx has signed deals with Celera, AstraZeneca, and AniGenics.

The company posted first quarter net losses of $5.7 million, or 50 cents per share, compared with $481,000, or four cents a share, in the year ago period.

The Scan

Unique Germline Variants Found Among Black Prostate Cancer Patients

Through an exome sequencing study appearing in JCO Precision Oncology, researchers have found unique pathogenic or likely pathogenic variants within a cohort of Black prostate cancer patients.

Analysis of Endogenous Parvoviral Elements Found Within Animal Genomes

Researchers at PLOS Biology have examined the coevolution of endogenous parvoviral elements and animal genomes to gain insight into using the viruses as gene therapy vectors.

Saliva Testing Can Reveal Mosaic CNVs Important in Intellectual Disability

An Australian team has compared the yield of chromosomal microarray testing of both blood and saliva samples for syndromic intellectual disability in the European Journal of Human Genetics.

Octopus Brain Complexity Linked to MicroRNA Expansions

Investigators saw microRNA gene expansions coinciding with complex brains when they analyzed certain cephalopod transcriptomes, as they report in Science Advances.