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Applied BioCode Raises $13.2M in Public Stock Offering

NEW YORK (GenomeWeb) – Applied BioCode announced today that it has secured $13.2 million through a public offering of its common stock.

In addition, the firm said it has also secured $8 million in total credit lines extended from an undisclosed FDIC-insured financial institution and a commercial lender.

Applied BioCode obtained US Food and Drug Administration clearance earlier this month for its MDx-3000 molecular diagnostics system along with a multiplex panel assay that tests for 17 gastrointestinal pathogens. The firm, which is a registered Cayman Islands corporation with facilities in the US and Taiwan, plans to use the new funds to commercialize the Gastrointestinal Pathogen Panel (GPP) and MDx-3000 in the US, noting in a statement that the system "will provide high-volume laboratories with an alternative to high-cost cartridge-based systems."

The GPP is the first test in a menu of multiplex infectious disease test panels that Applied BioCode will bring to market on the MDx-3000 system, the company added.

The Scan

Panel Votes for COVID-19 Pill

A US Food and Drug Administration panel has voted to support the emergency use authorization of an antiviral pill for COVID-19 from Merck and Ridgeback Biotherapeutics, CNN says.

But Not Harm

New Scientist reports that UK bioethicists say that though gene editing may improve food production, it should not harm livestock welfare.

Effectiveness Drop Anticipated

Moderna's Stéphane Bancel predicts that that current SARS-CoV-2 vaccines may be less effective against the Omicron variant, the Financial Times reports.

Cell Studies of Human Chromatin Accessibility, SARS-CoV-2 Variants, Cell Signaling Networks

In Cell this week: chromatin accessibility maps of adult human tissues, modeling to track SARS-CoV-2 variants of concern, and more.