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3D Signatures Files to Offer C$5M in Common Stock

NEW YORK (GenomeWeb) – Toronto-based 3D Signatures announced today that it has filed paperwork with Canadian regulators to privately sell up to 12.5 million shares of its common stock in the US for a total of C$5 million ($4 million).

3DS is developing diagnostic and prognostic tests based on a proprietary platform that analyzes the spatial patterns of chromosomes by tagging and imaging their telomeres. The company said it intends to use roughly 40 percent of the offering proceeds for the validation and commercialization of its Hodgkin's lymphoma test Telo-HL; 20 percent for pilot studies of its technology in lung cancer and myelomas; and the remaining funds for clinical wages, laboratory expenses, and general working capital purposes.

3DS anticipates launching Telo-HL next year as a laboratory-developed test.

3DS said it will offer the shares in the US on a private placement basis at C$.40 apiece through a syndicate of agents led by Haywood Securities and including Industrial Alliance Securities, which will receive cash commissions, up to C$50,000 in expense reimbursements, and broker warrants.

The company has also granted the agents a 30-day overallotment option for the purchase of roughly 1.9 million additional shares at the offering price, and Haywood will also be paid a corporate finance fee of C$40,000 plus tax.

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