Proceeds from the placement will be used for general corporate and working capital purposes, including commercialization of the firm's ICE COLD-PCR technology.
The partners will augment the multiplexing capabilities of ICE COLD-PCR, which was developed at Dana-Farber and is exclusively licensed to Transgenomic.
Transgenomic has completed its divestment of its Genetic Assays and Platforms unit to Adstec
The lower sales from contract laboratory services reflect Transgenomic's continued refocusing on its core ICE-COLD PCR molecular diagnostic technology.
Adstec will assume the business, financial, and human resource commitments of the business and pay Transgenomic $300,000 for stock and inventory related to the business.
The deal covers four of Transgenomic's liquid biopsy cancer assays, which detect actionable mutations associated with sensitivity or resistance to therapy.
The company sold the technology and assets to Edge BioSystems as part of an ongoing effort to divest legacy non-core businesses and product lines.
The firm has signed Spectron Scientific and Sowa Trading Company to distribute its ICEme mutation enrichment kit in China and Japan, respectively.
Adjusting for the company's third quarter 2014 sale of its Surveyor kits product line, Q2 revenue increased about 11 percent year over year.
A man has confessed to the rape and murder of developmental biologist Suzanne Eaton, according to the New York Times.
The Irish Times reports that US lawmakers and law enforcement agencies are concerned about ties between the US and Chinese genomics firms.
Parents of children with spinal muscular atrophy tell the Washington Post they are pushing to get insurance coverage of Novartis's Zolgensma.
In PNAS this week: gene mutations in individuals with syndromic craniosynostosis, putative colorectal cancer drivers, and more.