private financing

The firm will use funds from the round, led by the Midlands Engine Investment Fund, to develop its optical point-of-care diagnostic testing platform.

The company said it intends to use net proceeds from the offering to support development and commercialization for its DetermaVu and Razor assays.

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

The  firm will use the net proceeds for research and development, marketing, and general corporate purposes to help commercialize its LX Analyzer technology.

Cambridge, UK-based Sense Biodetection will use the funding to develop a portfolio of instrument-free, point-of-care molecular diagnostic tests.

The company offers products and services for analyzing, interpreting, and reporting clinical next-generation sequencing data with a focus on cancer.

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.

Ginkgo plans to strategically partner with leading companies in mature markets to create synthetic biology-based spinouts, something it has already done in ag-bio.