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Verisante Inks Deal for $2.8M in Funding and Chinese Distribution


NEW YORK (GenomeWeb) – Verisante said this week that it has closed a non-brokered private placement of 2 million common shares at a price of $.15 per share, raising a total of $300,000.

The placement comes in conjunction with the company's agreement with an unnamed strategic partner for exclusive marketing and sales rights to its Raman spectroscopy-based Core cancer detection system and ClearVu endoscopic camera.

This agreement is contingent on Verisante receiving an additional $2.5 million in investment by the end of September 2014. That private placement will be for common shares discounted below the market price at a rate of no greater than 15 percent.

Under the agreement, the unnamed partner will fund the China Food & Drug Administration approval process for products beginning with the Core for lung cancer, including additional clinical trials if needed.

The Scan

And Back

The New York Times reports that missing SARS-CoV-2 genome sequences are back in a different database.

Lacks Family Hires Attorney

A lawyer for the family of Henrietta Lacks plans to seek compensation from pharmaceutical companies that have used her cancer cells in product development, the Baltimore Sun reports.

For the Unknown

The Associated Press reports that family members are calling on the US military to use new DNA analysis techniques to identify unknown sailors and Marines who were on the USS Arizona.

PLOS Papers on Congenital Heart Disease, COVID-19 Infection Host MicroRNAs, Multiple Malformation Mutations

In PLOS this week: new genes linked to congenital heart disease, microRNAs with altered expression in COVID-19, and more.