The firm has reached a deal with certain investors for the purchase of units comprising OncoCyte common shares and warrants to purchase shares.
The company said it plans to use the financing to increase adoption of its MammaPrint BluePrint next-generation sequencing-based test kit for breast cancer.
It anticipates using the funds to complete the development of its first set of diagnostic products, and for a set of clinical studies to obtain regulatory clearance.
The financing will support business expansion, continued technology development, and expenses related to a planned listing at the end of the year.
The Swedish molecular diagnostics firm will use the proceeds, in part, to fund the planned launch of its Immray PanCan-d assay for detecting pancreatic cancer.
The firm said it will use the funds to commercialize Colvera, its liquid biopsy test for earlier detection of recurrent colorectal cancer.
The financing will be used to hire additional team members and conduct additional studies in fertility science. The firm also launched its $199 fertility test.
The company entered a securities purchase agreement through which it has raised gross proceeds of $650,000 and paid down a portion of the company's debt.
The funding will help Mobidiag scale up production of its Novodiag instruments and disposable cartridges, and improve its global sales and marketing activities.
The financing round will support Grail's ongoing development and validation of early cancer detection products.