financing

The company said it will use the funds to accelerate the development of applications for its Onyx Digital Genome Engineering platform.

In a Twitter message dated Dec. 4, the company said it is suspending its US operations for the time being "due to an unexpected adverse financing situation."

The firm plans to use the proceeds to fund operation and commercial growth as well as development of its Codex and Phenoptics spatial omics platforms.

The financing will go toward building out its sales teams in the US and Europe in order to market its multiplexed MDx tests for infectious diseases.

The Series A financing will go toward expanding access to its liquid biopsy-based test to more patients in Asia and North America, it said.

The firm said that in a first phase of the contract it will focus on further development of its fever test that analyzes immune system gene expression patterns.

The company said it will use the funds to support development of its structure for lossless ion manipulation (SLIM) ion mobility separations technology.

The San Diego-based company plans to use the proceeds from the financing to enhance its Health Nucleus intelligence platform.

The company has used a portion of the new facility to pay back existing debt to the bank, as well as a final payment designated in the parties' earlier loan agreement.

The firm said that the second tranche is part of the financing provided by Ampersand Capital for the $23.5 million acquisition of Cancer Genetics' biopharma business earlier this year.