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In Brief This Week: Exagen, EKF Diagnostics, Danaher, and More

NEW YORK – Exagen said this week that it had closed its previously announced initial public offering of 4.14 million shares of its common stock at a public offering price of $14 per share.

The aggregate gross proceeds to Exagen from the offering were $58 million, before deducting underwriting discounts and commissions, and other offering expenses. The gross proceeds included an exercise by the underwriters of their option to purchase 540,000 additional shares. 


EKF Diagnostics said this week that it has opened a research and development facility at its Cardiff, UK headquarters. The firm said it will focus on developing new applications for its point-of-care and central-laboratory medical products at the facility, named the special projects laboratory. EKF anticipates the applications it develops there will enable it to enter new market sectors. The firm said that the facility will provide for additional diagnostics sales and regulatory support. The addition of the UK-based laboratory brings the number of EKF worldwide R&D facilities to five. 


Danaher this week announced it will redeem all of its $500 million aggregate principal amount of 2.4 percent senior notes due in 2020 and all of its $375 million aggregate principal amount of 5 percent senior notes due in 2020 issued by Pall. The redemption date will be Oct. 24. Danaher said it intends to use part of its cash distribution from the recent initial public offering of its dental business spinoff, Envista, to fund the redemption. 


Yourgene said this week that it has transferred its quality accreditation process to BSI NL, a notified body in the Netherlands, which will allow the company to continue to sell its systems in the European Economic Area following Brexit. As part of the transfer, Yourgene has received a renewed CE-IVD certificate from BSI NL for the design and manufacture of the Iona noninvasive prenatal test. The renewed certificate will be valid until Jan. 25, 2021. It will enable the firm to appoint an identified EU-based authorized representative, which Yourgene said will protect it against no-deal Brexit scenarios.


HTG Molecular this week announced the closing of its previously announced underwritten public offering of 29.3 million shares of its common stock price at a public offering price of $.65 per share.

The firm's aggregate gross proceeds were $19 million, before deducting underwriting discounts and commissions, and offering expenses. The gross proceeds included an exercise by the underwriters of their option to purchase 3.8 million shares. 


The HudsonAlpha Clinical Services Lab said this week it has received recertification from the College of American Pathologists. The lab was established in 2014 and is one of about two dozen clinical labs that provide whole-genome sequencing and analysis. 


Molecular testing firm LexaGene announced this week that it will offer between C$3.5 million ($2.6 million) and C$10 million in shares of common stock and warrants to purchase shares of common stock. The offering will consist of units of one share and one warrant. The firm has not yet determined the price per unit, the exercise price of the warrant, or the term of the warrant. 

LexaGene, which is based in the US but trades on Canada's TSX Venture Exchange, said it will use the proceeds for R&D, marketing, and general corporate purposes, including building inventory and initializing commercial sales.


Personalis has received a new task order under its contract with the US Department of Veterans Affairs for the VA’s Million Veteran Program.

Launched in 2011, the MVP is aimed at better understanding how genetic variations affect various aspects of health and longevity. Up to a million veterans are expected to enroll in the study by 2021.

Personalis said the new task order is the largest single order the company has received to date and represents a value of up to approximately $38.1 million. According to the company, the cumulative value of task orders received to date under the MVP effort, for which Personalis was first contracted in 2012, is approximately $145 million.

"Given the current backlog of VA MVP samples in-house and the additional samples we may receive under this new task order, we expect that over the next several quarters our VA MVP business will account for a higher proportion of our total revenue than previously expected," Personalis CEO, John West said in a statement.


In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.