The collaboration will leverage the firms' technologies to identify patients most likely to develop pancreatic cancer and to detect the cancer in the earliest stage.
The company intends to use the proceeds for working capital, to repay debt, and for general corporate purposes.
The company said it will use the proceeds for working capital, to repay debt and other liabilities, and for general corporate purposes.
The firm will sell 855,000 shares of its common stock to three investors. It will also sell warrants to the same investors.
The deal covers Interpace's ThyGenX and ThyraMir tests for thyroid cancer, as well as its PancraGen pancreatic cancer test.
In December, the company effected a 1-for-10 reverse stock split in order to help regain compliance with Nasdaq's minimum closing bid requirement.
The company said it will use the proceeds for working capital, repayment of indebtedness, and general corporate purposes.
Certain investors have agreed to buy 375,000 shares of Interpaces common stock at $6.75 per share, and 255,000 prefunded warrants to purchase common stock at $6.74 per share.
Interpace hopes to keep its stock listed on the Nasdaq as a result of the reverse split.
A single institutional investor will purchase 2 million shares of Interpace's common stock and 1.6 million prefunded warrants to purchase its common stock.