Guardant Health said this week that it closed an initial public offering of approximately 14.4 million shares of its common stock at $19 per share, raising gross proceeds of about $273.1 million.
The placing and subscription shares that are part of the offering are expected to start trading on the AIM market of the London Stock Exchange later this month.
The company plans to use parts of the proceeds from the offering to pay for the recent settlement with Illumina.
By early 2020, the UK company plans to develop a version of its Iona test that uses Illumina's sequencing technology.
Under the agreement, the companies plan to develop a customized solution that can be widely deployed for DNA sequencing.
Color announced it's offer $50 confirmatory testing for individuals who have positive results from 23andMe’s direct-to-consumer genetic test that gauges three BRCA1 and BRCA2 mutations
The UK-based noninvasive prenatal testing firm also said that it has raised £2.5 million in funding through a share subscription.
The company is now seeking commercial partners in Brazil to make the Iona test available in the country.
Premaitha had been sued by Illumina for allegedly infringing on five patents related to noninvasive prenatal testing with its Iona test.
Premaitha entered into a secured loan facility agreement with Thermo Fisher, which is secured on the shares of Premaitha's Taiwanese subsidiary, Yourgene Bioscience.