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UPDATE: MDxHealth Targeting $12.4M in Private Placement

This story has been updated to reflect that MDxHealth completed its private placement on June 29.

NEW YORK (GenomeWeb News) – MDxHealth has successfully completed a private placement that raised €10 million ($12.4 million).

Pursuant to the placement, the Belgian molecular diagnostics firm said it will issue about 2 million new ordinary shares to Bioinvest Comm. at an offer price of €1.503 and 4.9 million shares to other unnamed investors at an offer price of €1.430.

Net proceeds will be used mainly to support and scale up its US operations including an expansion of its sales and marketing team and its Irvine, Calif.-based CLIA laboratory. Proceeds may also be directed at product development.

In May MDxHealth launched its epigenetic test in the US for prostate cancer in partnership with Plus Diagnostics.

ING Belgium is the global coordinator and is joint bookrunner with Petercam for the placement, which is expected to close on June 29.

The Scan

Myotonic Dystrophy Repeat Detected in Family Genome Sequencing Analysis

While sequencing individuals from a multi-generation family, researchers identified a myotonic dystrophy type 2-related short tandem repeat in the European Journal of Human Genetics.

TB Resistance Insights Gleaned From Genome Sequence, Antimicrobial Response Assays

Researchers in PLOS Biology explore M. tuberculosis resistance with a combination of sequencing and assays looking at the minimum inhibitory concentrations of 13 drugs.

Mendelian Disease Genes Prioritized Using Tissue-Specific Expression Clues

Mendelian gene candidates could be flagged for further functional analyses based on tissue-specific transcriptome and proteome profiles, a new Journal of Human Genetics paper says.

Single-Cell Sequencing Points to Embryo Mosaicism

Mosaicism may affect preimplantation genetic tests for aneuploidy, a single-cell sequencing-based analysis of almost three dozen embryos in PLOS Genetics finds.