Interleukin Genetics

A number of experts have questioned the clinical validity underlying Interleukin's tests and hope Orig3n will not revive them.

Interleukin said in July that it would liquidate its assets after laying off 63 percent of its workforce and suspending sales of its controversial genetic test.

The American Dental Association wants insurers and test manufacturers to show genetic testing is scientifically valid before they're used to determine coverage eligibility.

The announcement comes three weeks after Interleukin said it was laying off 63 percent of its workforce and suspending sales of a controversial genetic test.

Geneticists and periodontists point to financial conflicts, the lack of genetics knowhow, and regulatory gaps for the availability of a test they say should have never come to market.

The decisions are part of the company's restructuring efforts after it was unable to extend deferral of its debt payment with its senior lender.

The private placement will include a syndicate of existing investors, as well as members of the company's senior management.

The company continues to focus on the commercialization of its genetic test for identifying an increased risk of severe and progressive periodontitis. 

Full-year revenues fell 22 percent, which the company said was due to a decrease in the number of kits being returned for processing. 

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