NEW YORK (GenomeWeb) — VolitionRx announced today that it has received $700,000 in non-dilutive funding from the government of the Wallonia region of Belgium where the company is headquartered.
According to VolitionRx, roughly $200,000 of the funding is repayable in annual installments over 12 years, beginning in 2020. Additionally, an undisclosed percentage of the company's revenue may be payable to the Walloon regional government over the same period.
VolitionRx said that it intends to use the funds to continue R&D efforts for cancer diagnostics based on its Nucleosomics nucleosome analysis technology.
In late 2017, the firm said that it had received $1.5 million in non-dilutive funding from Sofinex and the Walloon government. It said it has received a total of $3.7 million in non-dilutive funding from local agencies to date.