SQI Diagnostics announced last week that it has raised C$4.6 million ($4.6 million). The Toronto-based molecular diagnostics company raised the funds in a non-brokered private placement of about 2.3 million units priced at roughly C$2 per unit, where each unit consisted of a common share and a purchase warrant.

SQI said it intends to use the net proceeds to fund its product development and commercialization programs, sales and marketing, and for general working capital purposes.

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