Orig3n has raised $20 million in a recent round of private financing. The Boston-based firm offers direct-to-consumer genetic tests and is developing regenerative medicine projects. A spokesperson said Orig3n will use proceeds from the financing to expand its research into cell therapies. Hatteras Venture Partners led the round of financing, which included previous investors LabCorp, Syno Capital, KTB-KORUS Fund, MGC Venture Partners, DEFTA Partners, and 180 Degree Capital, and new investor Spectrum Health Ventures. Orig3n also said that Byron Smith, a principal at Mountain Group Partners, has joined the firm's board of directors.
Biocept has been added to the Russell Microcap Index, which includes 1,000 of the smallest securities in the Russell 2000 Index by market capitalization. Among the other firms in the Microcap index are HTG Molecular Diagnostics and Natera.
Intel, Inspur, BGI, and Alibaba Cloud jointly announced this week the launch of the GATK Chinese Association for Precision Medicine. The effort is intended to accelerate the adoption and use of the Broad Institute's GATK genome analysis software among researchers in China working on personalized medicine applications.
Precipio Diagnostics and Transgenomic have completed their previously announced merger. Under the deal, Omaha, Nebraska-based Transgenomic will be merged into Precipio, which is based in New Haven, Connecticut, and offers molecular diagnostic tests for cancer, while Transgenomic's CLIA-certified lab will move to the New Haven location. Precipio CEO Ilan Danieli will keep that post in the combined company. The new firm is expected to begin trading on the Nasdaq on June 30 under the ticker symbol "PRPO".
SenzaGen and Charles River Laboratories signed a global distribution agreement to market SenzaGen's genetic Gardskin chemical skin sensitivity test. The test is based on biomarkers for more than 200 genes covering the entire immune reaction to predict the risk of hypersensitivity. Financial and other terms of the deal were not disclosed.
MetaStat has raised around $2.1 million of a planned $7 million in a private placement of its common stock led by Perceptive Advisors, along with existing institutional and accredited investors. The Boston-based molecular diagnostics and therapeutics developer said the placement consisted of an aggregate of 690,816 shares of common stock and approximately 196,216 shares of Series A-2 convertible preferred stock, which are convertible into 1,962,164 shares of common stock. In connection with the private placement, the company adjusted the exercise price of 474,829 outstanding common stock purchase warrants from $3.00 per share to $2.00 per share. The firm said it has until the end of July to complete the placement.
In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the GenomeWeb site.