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Theradiag Raises €4M

NEW YORK (360Dx) – French diagnostic and theranostics firm Theradiag today said it has raised more than €4 million ($4.4 million) after issuing shares to "a specific category of persons."

Theradiag sold 1.7 million new shares at €2.30 per share. The shares were issued following an accelerated bookbuilding process, the firm said, adding the funds will go toward international development and the marketing of the company's autoimmunity, allergy, and theranostic products.

Company CEO Michel Finance said that the capital increase "gives us the funds we need to launch BioCLIA in the European market in the next few months, enabling us to step up the development of our in vitro diagnostics business unit."

The company last week reported a 5 percent bump year over year in its first quarter revenues.