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The company sells a number of next-generation sequencing-based tissue and liquid biopsy tests for cancer therapy selection to the Chinese market.
Progenity recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
The firm has granted the underwriters an option to purchase up to 2,400,000 additional shares, which would contribute additional gross proceeds of up to $38.4 million.
The company recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
The Beijing-based company offers genomics products and services, including PCR instruments and cancer sequencing, and maintains a research center in the US.
ArcherDx has leveraged next-generation sequencing to develop and commercialize more than 325 research-use-only products and a pan-solid tumor diagnostic test.
The company said that a large portion of the offering's proceeds would be used to end criminal and civil investigations over its past billing practices.
Atomo also said it has closed an oversubscribed initial public offering and that it intends to float its shares on the Australian Securities Exchange mid-month.
The Chinese company has also granted the underwriters of the offering an option to purchase an additional 200,004 ADS to cover overallotments.
Companies developing tests for cancer therapy selection, therapy monitoring, and screening received most of the private investment, funding experts said.