Skip to main content
Premium Trial:

Request an Annual Quote

Epigenomics Issues €5.5M Convertible Bond

NEW YORK — German diagnostics firm Epigenomics said on Thursday that it has issued a mandatory convertible bond with a nominal value of up to €5.5 million ($6.7 million).

Epigenomics said that it will use the proceeds of the bond to support its operations following the recent preliminary decision by the US Centers for Medicare and Medicaid Services (CMS) to not cover the company's Epi proColon blood-based colon cancer screening test for Medicare-eligible patients. 

A final CMS ruling is expected this month.

The bond consists of up to 500,000 notes valued at €11 each. The notes will be offered at an issue price of €11 through a rights offering, initially to existing shareholders of Epigenomics, along with an oversubscription option. Epigenomics said it has also signed a backstop agreement, under which existing investor Deutsche Balaton will acquire €4 million worth of the notes.

The offering is expected to start on Jan. 13 and end on Jan. 27.

In November, Epigenomics reported having cash, cash equivalents, and marketable securities totaling €6.6 million as of the end of the third quarter, which would fund its operations only through the first quarter of 2021.

The Scan

Germline-Targeting HIV Vaccine Shows Promise in Phase I Trial

A National Institutes of Health-led team reports in Science that a broadly neutralizing antibody HIV vaccine induced bnAb precursors in 97 percent of those given the vaccine.

Study Uncovers Genetic Mutation in Childhood Glaucoma

A study in the Journal of Clinical Investigation ties a heterozygous missense variant in thrombospondin 1 to childhood glaucoma.

Gene Co-Expression Database for Humans, Model Organisms Gets Update

GeneFriends has been updated to include gene and transcript co-expression networks based on RNA-seq data from 46,475 human and 34,322 mouse samples, a new paper in Nucleic Acids Research says.

New Study Investigates Genomics of Fanconi Anemia Repair Pathway in Cancer

A Rockefeller University team reports in Nature that FA repair deficiency leads to structural variants that can contribute to genomic instability.