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Lucigen Raises $2.2M in Private Stock Placement

NEW YORK (GenomeWeb) – Lucigen has raised $2.2 million in a private financing round, its CEO confirmed to GenomeWeb today.

The Middleton, Wisc.-based firm disclosed the financing in a regulatory document filed with the US Securities and Exchange Commission this week. In an email, Lucigen Chairman and CEO Ralph Kauten said that the financing is an extension of a private stock placement completed in January that brought in $2 million. According to this week's SEC document, Lucigen is targeting $2.5 million in the round in total.

" The offering was oversold, so we amended the offering to allow additional investment and to allow additional time so that those investors who were in the pipeline on the targeted closing date could participate," he said. He did not identify the investors.

The proceeds will be used to fund final development of the firm's ClariLight molecular diagnostics platform, perform final preclinical studies, and conduct a clinical trial with Clostridium difficile as the target scheduled for the second half of 2015, Kauten said,

He said he expects the firm to file a dual submission of a 510(k) and CLIA waiver to the US Food and Drug Administration before the end of the year.