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In Brief This Week: Vermillion, Courtagen, Quest, Danaher, and More

NEW YORK (360Dx) – In a US Securities and Exchange Commission filing this week, Vermillion said it had completed a private placement valued at $10.7 million before transaction costs.

The firm sold 3.7 million shares of its common stock at $1.40 per share, as well as warrants to purchase up to 2.8 million shares of common stock at an exercise price of $1.80 per share. The warrants were sold at a price of $0.125 per share of common stock. At the closing, Vermillion received $5.6 million, and it will receive an additional $5.1 million if all the warrants are exercised.

Courtagen Life Sciences recently announced that it has launched Avantra Genetics, a division that produces tests that provide genomic information focused on biological pathways important to "functional medicine clinicians."

Patients suffering from functional disorders may experience symptoms such as pain, fatigue, numbness or sensations, and gastrointestinal distress that can be severe, chronic, or debilitating, Courtagen said, and added that these disorders are often difficult to diagnose and treat, but may have a genetic origin or influence.

“Physicians practicing functional, integrative, or naturopathic medicine have been early adopters of personalized medicine and the use of personal genetic information to help guide diet and lifestyle choices,” Brian McKernan, CEO of Courtagen, said in a statement.

Three companies declared shareholder dividends this week. Quest Diagnostics' board of directors declared a quarterly cash dividend of $0.45 per share, payable on April 19. Danaher's board of directors approved a regular quarterly dividend of $0.14 per share payable on April 28. And the Luminex board of directors authorized the initiation of a quarterly cash dividend to its shareholders, the first in the company's history, payable on April 14.

Luminex said that its board intends for the firm to pay a regular quarterly cash dividend of $.06 per share to its shareholders.

Cancer Genetics said it received a $1 million gross tax credit from the New Jersey Technology Business Tax Certificate Transfer program. After expenses and fees, the firm received more than $950,000 in net cash.

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.