NEW YORK (GenomeWeb News) – Vermillion expects to raise $43 million in gross proceeds from a private placement of around 2.3 million shares with a group of unnamed investors.

The Fremont, Calif.-based molecular diagnostics firm is currently operating under Chapter 11 bankruptcy protection. It said that the private placement is subject to approval of Vermillion's reorganization plan by the US Bankruptcy Court in Delaware, and would take effect on or about Jan. 7, 2010, when a hearing on the reorganization plan is scheduled.

Get the full story

This story is free
for registered users

Registering provides access to this and other free content.

Register now.

Already have an account?
Login Now.

The Jackson Laboratory has filed a complaint accusing Nanjing University of breeding and re-selling its mouse models, the Hartford Courant reports.

Oxford researchers are turning to virtual reality to visualize genes and regulatory elements, Phys.org says.

In Science this week: neutrophils rely on microRNA to protect against lung inflammation, and more.

China is moving forward with plans to sequence a million citizens, the Wall Street Journal reports.