Following the completion of the recapitalization, participating shareholders released Theranos from any potential claims.
The French firm said that the funds will go toward international development and the marketing of the company's autoimmunity, allergy, and theranostic products.
The money will fund a new plan to sequence tumor DNA from more than 1 million cancer patients. The firm also announced a new JV in Asia, the Middle East, and Africa.
The funding will go toward clinical development of Tbit, which BioDirection said can offer an objective diagnosis of traumatic brain injuries in 90 seconds.
The company sold about 23 million units at C$.16 per unit.
The company sold shares, convertible debentures, and warrants to an institutional investor as part of a previously announced deal.
The firm will sell 855,000 shares of its common stock to three investors. It will also sell warrants to the same investors.
The rapid point-of-care diagnostics company anticipates receiving CE marking for its breast cancer test by March and launching it in India shortly afterward.
The firm will use the investment to launch its breath biomarker R&D services and fund clinical trials.
With the additional funds, the company has raised a total of $55 million in the round.