NEW YORK (GenomeWeb News) – Med BioGene today said that it has signed an agreement with SEP Capital to sell nearly C$500,000 (US$434,000) in units to the investment firm in a private placement.

The deal comes on the heels of Med BioGene raising C$1.6 million through a private placement last month of 20 million units in two tranches. The Vancouver, BC-based molecular diagnostics firm said that SEP will invest all of its available cash reserves — C$475,979 as of Dec. 31, 2008 — in the placement.

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