VolitionRx, a life sciences
company, announced today that it has completed a private placement with select
new and existing accredited investors and received $3 million in gross proceeds
from the transaction. Lake Street Capital Markets, LLC served as the
transaction’s exclusive US placement agent. VolitionRx reports that it will
allocate the proceeds toward operating costs such as its ongoing clinical
trials program.
Cameron Reynolds, CEO of
VolitionRx, says, “Proceeds from this raise will be used to fund operating
costs, including VolitionRx’s ongoing clinical trials program, notably our
4,800-individual colorectal cancer trial, for which analysis commenced in January.
We plan to use data from the trial in the initial application for European
regulatory approval for our first cancer diagnostic test, which will be for
colorectal cancer.”
In the transaction,
VolitionRx sold to the accredited investors 1.5 million shares of common stock
at a price of $2.00 per share, as well as five-year warrants for purchasing up
to an additional 1.5 million shares of common stock at an exercise price of
$2.20 per share.
VolitionRx is focused on
developing blood-based diagnostic tests for different types of cancer. The
basis of these tests can be found in the science of nucleosomics, or the
practice of identifying and measuring nucleosomes in the bloodstream — an
indication that cancer is present. The company seeks to make these tests
mainstream and easy-to-use.
For more information, visit:
www.volitionrx.com
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