NEW YORK (GenomeWeb News) – Rheonix has raised $14 million through a private placement of debt and equity, the Ithaca, NY-based molecular diagnostics company said today.

Rheonix intends to use the funds to remodel its existing space and add a new headquarters to its physical operations. The firm said the remodeling and expansion will enable it to scale up manufacturing capabilities and capacity as it begins production of the Rheonix Chemistry and Reagent Device, or CARD, cartridges for its molecular diagnostic system.

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