NEW YORK (GenomeWeb News) – Epigenomics today said that it raised almost €5 million ($6.7 million) in a successful completion of a capital increase.
The increase was achieved through a rights issue and a subsequent private placement. As a result of the capital increase, Epigenomics said its cash runway has been extended to at least the fourth quarter of 2013.
The company announced the raise in December. As of Sept. 30, 2012, it reported having €5.7 million in cash and cash equivalents.
Epigenomics added that it continues exploring all strategic options for the firm, including securing other financial resources to support its operations. A few weeks ago, it said that it had completed its submission to the US Food and Drug Administration for premarket approval of its Epi proColon blood-based test for the detection of colorectal cancer.
Epigenomics is based in Berlin and has offices in Seattle.