The company also plans to get started this year on preparations for bringing future tests through the US Food and Drug Administration.
The company is working with DKFZ to evaluate its NuQ test, which can identify chromosome fragments circulating in blood and analyze them for epigenetic modifications.
The tests are based on the company's Nucleosomics platform for identifying and quantifying nucleosome structural features such as histone modifications.
The blood-based assay, which uses the company's nucleosome detection technology, is the first of several that will be bundled together as a test for cancer diagnosis.
The study will evaluate the ability of VolitionRx's technology to detect prostate cancer and to distinguish different prostate conditions and healthy samples.
The IP covers the detection of histone modifications in cell-free nucleosomes from circulating cancer cells.
The firm closed its offering of 2,475,000 shares of stock at a price of $3.75 per share. It plans to use the proceeds to fund colorectal cancer clinical trials.
The firm, which was previously listed on the over-the-counter market, anticipates $8.5 million in net proceeds from the offering.
Biomedical research projects are generating a ton of data that still needs to be analyzed, NPR reports.
Theranos is retiring some of its board members, including Henry Kissinger and George Shultz, Business Insider reports.
The heads of 29 scientific societies and some 2,300 researchers call on President-elect Donald Trump to rely on and support science in two separate letters.
In Science this week: genetically modified flu virus could be key to new live vaccines, and more.