The company attributed the decline in part to fewer orders for its Epi proColon colorectal cancer test.
The firm's blood-based Epi proLung lung cancer test looks for a combination of DNA methylation biomarkers.
The company will use the net proceeds to finance its current operations and expand its US commercialization capacities for its lead product, Epi proColon.
The drop off was attributed to unusually high revenues in Q2 2016 after a commercialization partner stocked up on Epigenomics' colon cancer test.
The change comes amid lower than expected revenues for the first half of this year, as well as an anticipated continued lack of reimbursement coverage in the US.
The company attributed the revenue decline to the conclusion of agreements with licensing partners for the sale of its products.
The revenue increase was driven by a 41 percent rise in product sales.
The company has agreed to a takeover bid that values it at roughly €171 million ($186.3 million).
VA patients will now have access to Polymedco's colorectal cancer screening products, including the Epigenomics Epi proColon.
The qPCR-based test was shown to differentiate cancerous and non-cancerous tissue and predict biochemical recurrence, and can be used on small, degraded samples.
Berkeley researchers have engineered yeast to make the molecule behind the hoppy taste of beer, Quartz reports.
King's College London researchers examine the influence of school type and genetics on academic achievement.
FiveThirtyEight writes that most who take a direct-to-consumer BRCA1/2 genetic test won't learn much from it.
In Science this week: early life experience influence somatic variation in the genome, and more.