NEW YORK (GenomeWeb) – Australian molecular diagnostics firm Genetic Signatures today said that it plans to offer up to A$15 million (US$13.1 million) of its shares in an initial public offering.

The firm said in a prospectus that it seeks to raise between A$12 million (US$10.5 million) and A$15 million through an offering of up to 37.5 million shares of its stock at A$.40 per share. Proceeds will be used primarily to fund expansion into the European and US markets and the development of additional products, according to the company's prospectus.

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