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NEW YORK (GenomeWeb) — Australian molecular diagnostics firm Genetic Technologies announced on Wednesday that it has signed a A$20 million ($14.9 million) equity placement agreement with Melbourne-based investment management firm Kentgrove Capital.

Under the terms of the deal, Kentgrove may make a series of individual equity investments in Genetic Technologies of up to A$1 million each — or more by mutual agreement — over the next 20 months, totaling up to A$20 million.

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