Skip to main content
Premium Trial:

Request an Annual Quote

Transgenomic Shareholders Approve Merger With Precipio Dx

NEW YORK (GenomeWeb) – Transgenomic today announced its shareholders have approved the previously announced planed merger with Precipio Diagnostics.

More than 90 percent of votes cast by Transgenomic's shareholders gave the go-ahead to the deal at a special shareholders meeting held on Monday, the firm said. Additionally, more than 95 percent of Precipio's voting members approved the merger.

Upon completion of the transaction, privately held Precipio will become a wholly owned subsidiary of Transgenomic. Shares of the new firm, to be called Precipio Inc., will be listed on the Nasdaq under ticker symbol PRPO.

The merger was announced in October. At the time, Transgenomic said the new company would receive up to $7 million from a private placement of preferred convertible securities led by BV Advisory Partners simultaneous to completion of the merger.

Transgenomic added today that it and Precipio continue working to close the combined company's $7 million private placement of preferred convertible securities, and a conversion of all outstanding secured debt into the combined company's preferred convertible securities.

Precipio Founder and CEO Ilan Danieli will be the CEO of the new firm. 

The Scan

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.

Sequencing Study Leads to Vaccine Target in Bacteria Behind Neonatal Meningitis

Researchers eBioMedicine track down potential vaccine targets with transposon sequencing on mutant bacteria causing neonatal meningitis in mouse models of the disease.

Multiple Myeloma Progression Influenced by Immune Microenvironment Expression

Researchers in NPJ Genomic Medicine compare RNA sequencing profiles of 102,207 individual cells in bone marrow samples from 18 individuals with rapid or non-progressing multiple myeloma.

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.