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Solexa Secures $75M Equity Financing Commitment; Cash Will Help Roll Out GAS Sequencer

NEW YORK (GenomeWeb News) – Solexa has secured a committment to sell $75 million in common stock Azimuth Opportunity, the company said today.
 
Solexa said it plans to use the cash to develop and commercialize its Genome Analysis System, for working capital, and for other general corporate purposes.
 
The commitment is for two years. During the term, Solexa may sell registered shares of its common stock to Azimuth at a small discount to the market price. The timing and amount of sales will be at Solexa’s discretion, the company said.
 
Solexa shipped its first 1G Genome Analyzers to two early-access customers in late June and has said in the past that it wants to launch the instrument widely by the end of this year.

The Scan

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more