The in vitro diagnostic company said it would use the financing to commercialize its antibiotic susceptibility platform called Reveal.
The combined firm will be based in Gaithersburg, Maryland and will focus on infectious disease diagnostics and antimicrobial resistance prediction services.
Nasdaq told the company that as of June 30 its shareholder equity does not meet the minimum $2.5 million required for its shares to remain listed on the exchange.
By measuring and analyzing hospital testing operations, the firm anticipates helping its customers implement better antimicrobial stewardship programs.
The Gaithersburg, Maryland-based company continues to await US Food and Drug Administration clearance for its antimicrobial resistance test.
The iC-GN Assay detects target DNA and identifies gram-negative organisms associated with gram-negative bacteremia, and three antibiotic-resistance markers.
The firm's CEO said it is continuing to develop its distributor network to make its tests available in centralized and decentralized settings globally.
The firm said it anticipates using the financing to support working capital requirements, platform development, and pilot manufacturing.
Roche said that the test aids clinicians in accelerating tuberculosis diagnosis and treatment by detecting resistance to the antibiotics rifampicin and isoniazid.
The PCR-based test is designed to detect 47 antibiotic resistance genes in less than three hours from bacterial isolates to help guide treatment decisions.