OncoMethylome Hopes to Raise $11.3M in Private Placement of New Shares

Oct 16, 2007

NEW YORK (GenomeWeb News) — OncoMethylome Sciences hopes to raise around €8 million ($11.3 million) or more after issuing a private offering of new shares to institutional and qualified investors, the company said today.

However, the Belgian gene methylation-testing shop said it will not sell more than 10 percent of its outstanding shares.

OncoMethylome said it plans to use the funds to pursue clinical trials for its cancer diagnostics and tests for targeted cancer treatments.

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