NEW YORK— Biolidics said on Monday it plans to raise SGD$3.1 million (US$2.2 million) through a share placement round to expand the firm’s business through investments, mergers and acquisitions, joint ventures with third parties, and general working capital purposes.
As part of the share placement, the Singapore-based firm will issue about 17.9 million new ordinary shares at an issue price of $.175 per share, it said.
Biolidics’ ClearCell FX1 label-free system isolates and enriches cancer cells from blood using its single-use CTChip FR1 microfluidic chip. In December, Biolidics signed an agreement with San Carlos, California-based IncellDx to distribute the IncellDx bioINK PD-L1 CTC Core kit with the ClearCell FX 1 system.