Oncormed Completes Private Placement

GAITHERSBURG, Md.--Genomics services company Oncormed completed a $3 million equity financing through a private placement of convertible preferred stock to certain investors. Subject to certain conditions, the company and investors have the right to increase the aggregate amount of equity financing by an additional $3 million for an aggregate investment of $6 million. Oncormed characterizes genes to establish their clinical relevance and provides molecular profiling of patients for pharmacogenomic and therapeutic purposes.