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NeoGenomics Raises $3M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – NeoGenomics last week announced it raised $3 million.

Five members of the Ft. Myers, Fla.-based company's board and senior management as well as two existing institutional investors participated in the raise, which was priced at $1.50 per share. A total of 2 million shares of new common stock were issued by NeoGenomics.

No warrants were issued and no placement agent was used in the transaction, the company said. It plans to use proceeds to strengthen its financial position and fund growth initiatives, it said.