The company's first quarter revenues were driven by sales of its noninvasive prenatal screening and carrier screening tests.
The California startup is about to launch its first product, a noninvasive prenatal screening test for recessive single-gene disorders called Unity.
Elucigene has been developing in vitro diagnostics for oncology and reproductive health, including tests for cystic fibrosis screening and prenatal fetal aneuploidy screening.
While total revenues were up less than 1 percent, the Diagnostics division grew revenues 5 percent. Discovery & Analytical Solutions dipped 2 percent.
The new assay is part of the company's prenatal and women's health offerings, but it is also developing a preeclampsia test and technology for gastrointestinal testing.
To help fund the acquisition, Yourgene Health is planning to sell at least £10.0 million in newly issued shares to institutional investors.
The company said its higher revenues were due in part to international performance including continued penetration of Middle Eastern and Asian markets.
A study of 10 commercial labs offering NIPT in the US found that none followed all recommendations for reporting results and informing patients and providers.
The addition of the Y chromosome detection will enable the firm to refine its already-approved MaternalFetalScreen T1 test to provide personalized risk assessment.
The company will use the money to launch its first product, Unity, a noninvasive prenatal test for recessively inherited single-gene disorders.