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In Brief This Week: RealSeq Biosciences, CureMatch, Spesana, Epigenomics, More

NEW YORK – RealSeq Biosciences said this month that it closed its extended seed financing round on March 1, raising an undisclosed amount of additional funding. The round was led by new investors Charleston Angel Partners, Santa Clara Ventures, and Santa Cruz Ventures, with participation from earlier investors. The Santa Cruz, California-based RNA technology company plans to use the new funding to accelerate development of its Ribomarker platform for biomarker discovery and liquid biopsy programs. Last summer, RealSeq raised $1.5 million in an oversubscribed seed financing round.

CureMatch and Spesana this week announced a partnership to integrate CureMatch's artificial intelligence-driven precision medicine platform into Spesana's clinical workflow system. The precision medicine platform will allow clinicians to see analysis of a patient's genomic data and a ranked list of which treatments are predicted to benefit the patient. Spesana's platform combines clinical, operational, and financial solutions in one medical record.

Epigenomics said this week that the former cancer molecular diagnostics firm is now operating as a holding company that is focused on managing its remaining assets and holding and selling investments, particularly investments in companies that are in the minimally invasive blood-based cancer testing space. The Berlin-based firm said in October that it had closed an agreement for the sale of its major assets to New Day Diagnostics for $500,000 and an interest in New Day, and the firm said this week that the sale provided sufficient liquidity for the firm to continue its existence as well as the opportunity to benefit from milestone-based payments related to the commercialization of the Epi ProColon Next-Gen technologies that Epigenomics sold to New Day. Epigenomics reported that its fiscal year 2023 revenues fell 67 percent, to €300,000 ($327,000), compared to €900,000 in the previous year, which the firm said was the result of the firm's decision during restructuring to halt distribution of its Epi ProColon test. It posted a net loss of €4.5 million for the year compared to a loss of €17.3 million in fiscal year 2022. Cash consumption fell to €5.6 million for fiscal year 2023 compared to €10.7 million a year earlier. The firm ended 2023 with €2.1 million in cash and cash equivalents.

Enzo Biochem reported this week a 15 percent increase in its fiscal second quarter revenues to $8.6 million from $7.5 million a year ago. The Farmingdale, New York-based company had a net loss of $3.1 million, or $.06 per share, in Q2 2024 compared to a net loss of $11.3 million, or $.23 per share, in Q2 2023. On an adjusted basis, it had breakeven EPS. It had cash and cash equivalents of $60.2 million as of Jan. 31.

Co-Diagnostics this week announced its full-year 2023 financial results, reporting revenues of $6.8 million for the year, down 80 percent from $34.2 million in 2022 due largely to a decline in demand for its Logix Smart COVID-19 tests. Grant revenue totaled $5.8 million, while product revenue was $1.0 million. Net loss for the year was $35.3 million, or $1.20 per share, compared to a net loss of $14.2 million, or $.45 per share, in 2022. Co-Diagnostics ended the year with $58.5 million in cash, cash equivalents, and marketable securities.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.