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MDx Firm Akonni Biosystems Seeks to Raise $8M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Molecular diagnostics firm Akonni Biosystems is seeking to raise $8 million, it disclosed in a document filed on Monday with the US Securities and Exchange Commission.

In its filing, the Frederick, Md.-based firm said it has raised $912,598 in the private round of financing so far. It did not say how the funds will be used but said the offering is not being made in connection with a merger, acquisition or exchange offer.

Related persons in the financing include Charles Daitch, CEO of Akonni, and directors Michael Farmer, Tom McMahon, and Chuck Parrish.

Previously, Akonni had disclosed in SEC filings that it had raised $5 million in March and $1.4 million in May 2009.

In October, Akonni received a $500,000 grant from the US Department of Justice to develop a forensics platform, and the month before, the National Institutes of Health awarded it a $3 million grant in support of development of its multi-drug resistant/extensively drug-resistant genotyping testing technology.

During the summer, Akonni received a $435,000 grant from the National Institutes of Biomedical Imaging and Bioengineering to develop a Mycobacterium tuberculosis test.

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