Skip to main content
Premium Trial:

Request an Annual Quote

Sygnis Raises €4.2M in Private Placement

NEW YORK (GenomeWeb) – Sygnis announced today that it has raised €4.2 million ($5.2 million) through a previously announced private stock placement.

Sygnis said it sold 3 million newly issued shares at €1.40 each. The company previously said that it intended to raise up to €6.6 million through the private placement of 4.7 million shares.

Proceeds from the placement will be used to fund Sygnis' planned €10.4 million acquisition of Australian reagent maker TGR Biosciences. The company noted that the transaction will depend on its ability to obtain €2 million in debt financing.