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Luminex

The firm saw a profitable quarter driven by increases in assay sales and royalty revenues, despite a $7.1 million legal settlement with Enzo Life Sciences.

The firm raised $8 million since May and is no longer obligated to raise an additional $2 million by January 2016, per the original terms of the loan facility.

The firm expects to receive both FDA clearance and CE-IVD marking for the system and assay by the end of 2015 and has more assays in development.

Luminex will pay Enzo Biochem $7.1 million to settle a lawsuit alleging infringement of patents for oligonucleotides and solid supports for fixed nucleic acids.

The firm sold shares of preferred stock and warrants to purchase common stock. It expects net proceeds of approximately $4.0 million.

The firm closed its existing debt facility with Silicon Valley Bank and Oxford Finance and plans to use the funds for general corporate purposes and working capital.

The firm also commenced a registered direct offering of $4.4 million and entered into a new $30 million debt facility with NSPH Funding.

The company is preparing for the fourth quarter launch of its Aries sample-to-answer system and assays, as well as its NxTag Respiratory Pathogen Panel.

Infectious disease assays accounted for 64 percent of total assay sales in the quarter.

As a result of the action, the number of Nanosphere's outstanding common shares will be reduced to about 5.9 million from 117.2 million, the firm said.

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