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In Brief This Week: HTG Molecular, Accelerate Diagnostics, OncoCyte, Oxford Immunotec, and More

NEW YORK (360Dx) – HTG Molecular disclosed in a filing with the US Securities and Exchange Commission that it has entered into a statement of work with Qiagen Manchester, a UK-based subsidiary of Qiagen, pursuant to a previously announced master assay development, commercialization, and manufacturing agreement.

The agreement addresses development work for the initial phase of an expected multi-phase project to develop and commercialize a next-generation sequencing-based companion diagnostic assay to support therapeutic development and commercialization for an undisclosed pharmaceutical partner.

Qiagen will pay HTG millions of dollars in the low single digits for the initial development work, and will also share in any net profits as determined under the master agreement.

Accelerate Diagnostics said this week that underwriters have exercised part of an option to purchase 335,484 additional shares at a public offering price of $28.85 per share, less the underwriting discounts and commissions, in connection with the previously announced public offering of 2,750,000 shares of its common stock that closed May 15. The new purchase, which closed on June 14, brings the total number of shares of common stock sold in the offering to 3,085,484, providing net proceeds of about $82.9 million.

OncoCyte said this week that it will join the Russell 3000 Index after the US market opens on June 26, in a move that it believes will help expand awareness of the firm and its cancer diagnostics. Russell 3000 membership remains in place for one year and ranks stocks by total market capitalization. OncoCyte will also be part of the large-cap Russell 1000 Index or small-cap Russell 2000 Index.

Oxford Immunotec on Friday announced a favorable pretrial claim ruling by the US District Court for the District of Massachusetts in the company's patent infringement lawsuit against Qiagen, Quest Diagnostics, and Laboratory Corporation of America. In his ruling, the judge rejected all of the defendants' proposed constructions and construed the claims as proposed by Oxford Immunotec, according to the UK-based diagnostics firm.

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