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The firm said that in a first phase of the contract it will focus on further development of its fever test that analyzes immune system gene expression patterns.
The company said it will use the funds to accelerate expansion of its MeMed BV test, which distinguishes between bacterial and viral infections.
The company said it will use the proceeds to increase commercialization of its PreTRM test, a blood biomarker test to determine the risk of premature delivery.
The company will use net proceeds from the offering for R&D, commercialization of its products, working capital, and other business expenses.
The company has used a portion of the new facility to pay back existing debt to the bank, as well as a final payment designated in the parties' earlier loan agreement.
The firm said that the second tranche is part of the financing provided by Ampersand Capital for the $23.5 million acquisition of Cancer Genetics' biopharma business earlier this year.
The St. Louis-based firm will use the funds to develop its colorectal cancer screening test, which measures eukaryotic RNA isolated from epithelial cells in stool.
The firm will offer €4.4 billion of euro-denominated notes and $900 million in dollar-denominated notes. It will redeem another $4.5 billion in outstanding notes.
The firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.
The company, founded in May 2018 and headquartered in Guangzhou in southern China, has developed a CRISPR-based rapid diagnostics platform for pathogen detection.