restructuring

Olink Proteomics will focus on developing protein biomarker discovery products while Olink Bioscience will work on other technologies arising from its IP portfolio.

In November, the company said it was selling off its biomedical commercialization and marketing services business in order to focus on its diagnostic offerings.

The company has scaled back its headcount from a peak of 115 employees to about 100 staff members, primarily on the commercial side.

The molecular diagnostics company has been given 60 days to demonstrate that it's in compliance with TSX listing requirements.

The moves are part of an organizational restructuring designed to increase the company's focus on its core women's health business and reduce operating costs.

A private financing fell short of its goal and the IDL joint venture has been unable to its obligations to GeneNews and Cobalt Healthcare, the owners of the JV.

The molecular diagnostics firm has retained Roth Capital Partners as financial advisor to assist in restructuring Series C Warrants issued in March.

The firm's divisions will include Sequencing Solutions, Customized Solutions, and Diagnostics Solutions.