Rules-Based Medicine Withdraws IPO | GenomeWeb

This story originally ran on Nov. 12.

Molecular diagnostics firm Rules-Based Medicine is withdrawing its initial public offering, citing adverse market conditions.

The company filed for the IPO last December, saying proceeds from the offering would be used to pay dividends associated with its outstanding Series A preferred stock, repay borrowings under its revolving line of credit and subordinated debt, and fund sales and marketing efforts for its psychiatric diagnosis panel PsyMap and the development of other diagnostic panels.

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