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Cancer Genetics

The test is a microarray-based assay that analyzes the expression of 2,000 genes to identify the most likely tissue of origin for 15 common tumor types.

The Rutherford, NJ-based cancer molecular diagnostics firm will use the proceeds for general corporate purposes.

CGI's biopharma services accounted for most of its revenues, but clinical services revenues were up 181 percent on the October acquisition of Response Genetics.

The company said an increasing number of oncology clinical trials using genomic and immune-based markers will positively impact its business in 2016.

The company said the agreement will make its cancer diagnostics and genomic tests available to more than 2.6 million people.

Total revenues were up 24 percent as revenues from biopharma services increased 35 percent, offsetting a drop in clinical services revenues.

Cancer Genetics will provide oncology testing services to Blue Cross Blue Shield of North Carolina, Blue Cross Blue Shield Nebraska, and WellMark.

The firm is offering 3 million common shares at a price of $4 per share as well as an equal number of warrants at an exercise price of $5.00 per share.

Cancer Genetics said the deal is expected to provide it between $10 million and $12 million in revenues. 

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The former commissioner of the FDA has returned to the venture capital firm New Enterprise Associates as a special partner on the healthcare investment team.

Astronauts have edited yeast genes on the International Space Station in an experiment designed to show how cells repair themselves in space.

Emory University has found that two of its researchers failed to divulge they had received funds from China, according to the Atlanta Journal-Constitution.

In Science this week: influence of the nuclear genome on human mitochondrial DNA, and more.