NEW YORK — VolitionRx said today that it has received $1.4 million in non-dilutive funding through a grant from the Wallonia region of Belgium where the company is headquartered.
Unlike a recent $700,000 grant from Wallonia, this latest award is non-repayable, VolitionRx said. To date, the region has given the company about $6 million in non-dilutive funding.
According to VolitionRx, the $1.4 million will be used to support a research collaboration with the University of Liege focused on telomere maintenance and the development of cancer diagnostics based on the company's Nucleosomics nucleosome analysis technology.
"It is a key part of our financing strategy to actively seek non-dilutive funding as this provides additional cash at favorable terms to support the company's continued development," VolitionRx President and CEO Cameron Reynolds said in a statement.