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Interpace Diagnostics Closes $13M Financing Investment

NEW YORK – Interpace Diagnostics said today that it has closed on a $13 million convertible preferred stock investment by Ampersand Capital Partners. 

The Parsippany, New Jersey-based company noted that the investment is the second tranche of the $27 million convertible preferred stock financing provided by Ampersand to finance Interpace's acquisition of Cancer Genetics' biopharma business in July. 

According to Interpace, about $6 million of the financing will be used to pay down a note due to Cancer Genetics in connection with the acquisition. 

"We are excited to strengthen our partnership with Ampersand and to reinforce it through overwhelming support from our shareholders as we received approval for the second tranche financing," Interpace CEO Jack Stover said in a statement.