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In Brief This Week: Rutgers University; GeneNews; MDxHealth; and More

NEW YORK (GenomeWeb) – Rutgers University said this week that its board of governors has approved the establishment of three new endowed chairs in cancer genomics, Alzheimer's disease and neurodegeneration research, and the philosophy of religion. The Duncan and Nancy MacMillan Endowed Chair in Cancer Genomics was established with a $1.5 million gift from an anonymous donor. The Krieger Klein Endowed Chair in Alzheimer's Disease and Neurodegeneration Research was established with a gift of $1.5 million from Herbert C. and Jacqueline Krieger Klein to the Brain Health Institute, a joint initiative of Rutgers Biomedical and Health Sciences and Rutgers-New Brunswick's School of Arts and Sciences.

GeneNews announced this week that the Toronto Stock Exchange has completed its remedial review process and has determined that the company meets its continued listing requirements. The firm received notice in January that the Toronto Stock Exchange was reviewing its eligibility to remain listed on the TSX, and said its restructuring efforts could positively affect its ability to demonstrate compliance with the listing requirements.

GeneNews also reported its first-quarter earnings this week, recording a consolidated net loss of $2.7 million, or $.05 per share, compared with a consolidated net loss of $1.0 million, or $.02 per share, for Q1 2015. The company also said it had approximately $300,000 in cash and cash equivalents as of March 31. 

MDxHealth announced this week that it has signed a reimbursement coverage agreement for its SelectMDx prostate cancer test with America's Choice Provider Network. This agreement is the first for SelectMDx in the US.

B-MoGen Biotechnologies said this week that it has completed its Series A financing. The investment round was co-led by Bio-Techne and the University of Minnesota's Discovery Capital Investment Program, and also included Mayo Clinic Ventures and Lateral Capital. B-MoGen is a University of Minnesota spin-off founded to commercialize proprietary molecular tools and drive CRISPR research. The firm declined to specify how much money it raised in the financing round, but President and CEO Jeff Liter told GenomeWeb it was "a sufficient amount to provide our company with enough capital for 18 months without any revenues."

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the GenomeWeb site.