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Response Biomedical Files Prospectus to Raise $7.9M

NEW YORK (GenomeWeb News) – Response Biomedical this week said it has filed the final prospectus for its offering to raise C$8 million (US$7.9 million).

Under the offerings' terms, each Response shareholder of record on Dec. 7, 2011 will be able to receive one right for each held share. Each right will be exercisable for 2.7532 units, with each unit consisting of one common share and one common share purchase warrant at a price of C$.0746 per unit.

Warrants are exercisable for five years after the closing of the offering, which will be made available only in Canada.

The rights will expire 5:00 p.m. EST, Dec. 29.

The Vancouver, British Columbia-based firm has entered into a standby purchase agreement with OrbiMed Private Investments, OrbiMed Asia Partners, and OrbiMed Associates, under which they would buy at least C$5 million in units, not otherwise purchased pursuant to the exercise of rights under the offering.

Proceeds from the offering will be used for product development, market expansion, operating losses, capital improvements, working capital, and other general corporate purposes, Response said.

Earlier this month, the company filed its completed restated financial statements for full-year 2011 and the first two quarters of 2011.

The Scan

For Better Odds

Bloomberg reports that a child has been born following polygenic risk score screening as an embryo.

Booster Decision Expected

The New York Times reports the US Food and Drug Administration is expected to authorize a booster dose of the Pfizer-BioNTech SARS-CoV-2 vaccine this week for individuals over 65 or at high risk.

Snipping HIV Out

The Philadelphia Inquirer reports Temple University researchers are to test a gene-editing approach for treating HIV.

PLOS Papers on Cancer Risk Scores, Typhoid Fever in Colombia, Streptococcus Protection

In PLOS this week: application of cancer polygenic risk scores across ancestries, genetic diversity of typhoid fever-causing Salmonella, and more.