drug delivery

The company said that a large portion of the offering's proceeds would be used to end criminal and civil investigations over its past billing practices.

The firm's lead product is a blood-based assay, called Alibrex, which uses PCR technology to monitor stage IV solid tumor cancer therapy.

Saladax will have the patent rights to Janssen Pharmaceutica's tests that determine drug levels in patients undergoing treatment with antipsychotic drugs.