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John McDonough announced he is moving into an executive chairman role and will step down as CEO. The firm has begun searching for a new CEO.
The firm will use the proceeds to continue developing its Proteograph platform, build its proteomic database, and develop liquid biopsy products for early disease detection.
The firm expect to raise gross proceeds of $15 million, or $17.25 million if the offering's underwriter exercises its option to purchase additional shares.
Proceeds from the loan facility will go toward the acquisition of Envigo's nonclinical research services business and other general corporate purposes.
The company is commercializing a method developed by researchers at Johns Hopkins that detects cancer with high specificity from a blood sample.
The company plans to use the funds to support further commercialization of its tumor tissue sequencing test, the Paradigm Cancer Diagnostic.
The firm will use the proceeds to scale operations, advance its companion diagnostics program, and further expand its minimal residual disease program.
The direct-to-consumer at-home health testing firm intends to use the funds to expands its platform development and supply logistics in North America.
The firm will use the proceeds to further a validation study tracking the ability of its cell culture assay to predict patient response to cancer therapies.
The company launched last month with initial financing of $35 million and licenses to CRISPR and synthetic biology technology from the Broad and Harvard.