News and reporting on cell-free DNA testing.
The team will present the results to the US Food and Drug Administration as part of a 510(k) application in order to commercialize the technology with Biofluidica.
The firm is offering 24.6 million shares of its common stock and warrants to purchase 24.6 million shares of stocks to financially support and expand its business.
The Australian company also plans to offer 72 million new shares to eligible existing shareholders to raise additional funds.
The test, which will be developed using the companies' respective technologies, will be marketed by Biolidics following clinical validation.
The Series A financing will go toward expanding access to its liquid biopsy-based test to more patients in Asia and North America, it said.
