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Vermillion Completes Warrant Exercise, Pulling in Additional $17.6M in Proceeds

NEW YORK (GenomeWeb News) – Certain investors have exercised warrants to purchase 12.1 million shares of Vermillion's common stock, providing the company $17.6 million in proceeds, Vermillion said late Thursday.

Oracle Investment Management, Jack Schuler, Matthew Strobeck, and other investors exercised the warrants, which were issued in conjunction with an equity financing deal that closed in May. The total investment from the deal is about $30.9 million before transaction costs, Vermillion said.

Proceeds will be directed at increasing test sales, improving reimbursements for the company's OVA1 ovarian cancer diagnostic test, expanding commercial opportunities in the US and new markets, and advancing additional next-generation ovarian cancer diagnostic tests.

The Scan

Guidelines for Ancient DNA Work

More than two dozen researchers have developed new ethical guidelines for conducting ancient DNA research, which they present in Nature.

And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

Nature Papers on Esophageal Cancer, Origin of Modern Horses, Exome Sequencing of UK Biobank Participants

In Nature this week: genetic and environmental influences of esophageal cancer, domestic horse origin traced to Western Eurasian steppes, and more.