equity investment | GenomeWeb

equity investment

The firm will sell 855,000 shares of its common stock to three investors. It will also sell warrants to the same investors.

The new investment from healthcare equity firm Essex Woodlands follows a $15 million round the company closed with the same investor this summer.

The Norwegian microbiome-focused clinical diagnostics company has ceded commercialization rights in certain undisclosed territories to Bio-Rad as part of the deal.

The company said it would use the funding to continue licensing its DNA design technology in the cell and gene therapy markets.

The companies have been working together since early 2015 on a diagnostic for the early detection of Lyme disease.

The funding will be used to support Appistry's operations and engineering efforts, including the continued development of its GenomePilot DNA data-analysis software.

Including the current financing round, the company has raised a total of nearly $2.4 million. 

GeneNews will also collaborate with the healthcare and management consulting firm to increase test adoption and improve revenue collection.

Sunquest now offers GeneInsight as part of its laboratory information management system solution and is working with Partners to develop new capabilities for the clinical genomics tool.

A spokesman for Courtagen, which develops NGS-based tests for ailments such as mitochondrial disorders, the $7.5 million is part of a financing round expected to bring in about $17 million. 

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