private financing

The funding will be used to continue work on a blood-based test for the detection of concussions at the point of care, point of injury, or at a remote testing site.

Investors in the company, formerly known as Vermillion, have agreed to purchase $11 million in unregistered common stock at a price of $3.50 per share.

Among the brands comprising Calibre are Alpha-Tec Systems, EdgeBio, Microlytic, Molecular Dimensions, and NexTal, which it acquired from Qiagen earlier this year.

The firm said that the proceeds will be used to complete the development of the Cue Health Monitoring System and Cue Test Cartridges.

The company is also working on a diagnostic COVID-19 test, called LamPore, that will run on its MinIon and GridIon nanopore sequencing platforms

The new funds will be used, in part, to support ChromaCode's expansion into resource-limited communities in low- to middle-income nations.

The cancer test developer will use the funding to commercialize its enrichment-based NGS panels. An IVD test also got CE marked.

The UK-based firm anticipates that it will have a high sensitivity test available in a few months that can detect active infections.

The deals are with institutional investors and more than 1 million American Depositary Shares will be offered at A$1.75 per ADS.