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Allegro Diagnostics

Originally published Oct. 10.

NEW YORK (GenomeWeb) – Veracyte announced after the close of the market Thursday that it will acquire Allegro Diagnostics for $7.8 million in cash and $13.2 million in common stock.

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Proceeds from the financing will support the commercialization of Allegro's lead genomic test, BronchoGen, in 2012.

The funds were raised in a Series A extension financing and will go toward the commercialization of its BronchoGen test in 2012.

Allegro CEO Mike Webb said the licensing agreement will support the "continued advancement" of the firm's BronchoGen test, including a planned commercial launch in the first half of 2012.

The IP licensed by Allegro relates to a gene expression-based platform that detects common molecular responses that occur throughout the respiratory tract in current and former smokers with lung cancer.

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