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Money from the private placement will be used for general corporate and working capital purposes, including activities supporting its ICE COLD-PCR technology.

The company also plans to launch its first services and products based on its flagship multiplex ICE-COLD PCR (MX-ICP) technology in June.

The partners will work together to incorporate Horizon Discovery's genomic reference standards into Transgenomic's Multiplexed ICE COLD-PCR.

The firm saw growth in its patient testing business in both the fourth quarter and Fiscal Year 2014.

Transgenomic has gained the rights to use Exiqon's locked nucleic acid oligonucleotides for several platforms, including NGS and ICE COLD-PCR.

The offering raised net proceeds of $6.2 million, which will be used for working capital and general corporate purposes, the firm said. 

The company is offering about 3.6 million shares of its common stock, and warrants to purchase 715,000 shares of its stock.