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Genetic Signatures raises $3.9mm in private placement; adds additional $7.6mm more in second tranche

Executive Summary

Genetic Signatures Ltd. (Australian molecular diagnostics company) raised $3.9 (A$5.1mm) in an oversubscribed private placement of 10.9mm new shares at $0.36 (A$0.47; 18% discount to prior 10-day trading average). The company will use the proceeds for commercial expansion in Australia, the EU, and the US, for FDA regulatory approvals and for product development costs for its pipeline.
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
  • Research, Analytical Equipment & Supplies
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Equity
    • Venture Financing

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