private financing | GenomeWeb

private financing

The firm said that the system is unique because it consists of cell, immunoassay, and nucleic acid tests within one platform.   

The firm offered a qualitative assessment of third quarter business activities, and announced a private placement and a US distribution deal with Thermo Fisher.

The firm is building an antibody-based immune system-related protein biomarker test for stroke diagnosis in both community and academic hospitals.

The exome-sequencing consumer genomics startup has added George Church and Dietrich Stephan to its advisory board, along with several others.

The IPO amount is about half of what the company's competitors, Editas Medicine and Intellia Therapeutics, raised in their own IPOs earlier this year. 

The financing round was led by Thrive Capital with participation from existing investor Andreessen Horowitz and angel investors Errik Anderson and Ashton Kutcher.

The company will issue preferred shares that will be convertible into common stock, as well as warrants to buy common stock.

The developer has presented clinical results that provide a base for completing development of a multi-protein test kit and conducting a clinical trial in advance of FDA submission.  

The company said it plans to use the proceeds of the offering for general corporate purposes.

Arrayjet said it would use the funds from the financing to expand its in-house consultancy service Arrayjet Advance, broaden its global footprint, and bring new products to market.

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Biomedical research projects are generating a ton of data that still needs to be analyzed, NPR reports.

Theranos is retiring some of its board members, including Henry Kissinger and George Shultz, Business Insider reports.

The heads of 29 scientific societies and some 2,300 researchers call on President-elect Donald Trump to rely on and support science in two separate letters.

In Science this week: genetically modified flu virus could be key to new live vaccines, and more.