Molecular Diagnostics says that it has successfully completed twoprivate equity offerings, with the first covering over $4 million of Series C preferred stock placed with several institutions and private investors. The second involves the placement of almost $1.8 million of Series D preferred stock with Ventana Medical Systems.
Peter Gombrich, Molecular Diagnostics' chief executive, said: " the fact that we have been able to raise nearly $6 million in new equity in a very difficult investment market speaks well for the belief investors have in our products and business strategy." He added that the new funds will enable the firm to complete trials of its Inpath System, which is being developed "to provide medical practitioners with a highly accurate, low-cost, point-of-care cervical cancer screening system."
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze