VolitionRx raises $12.8 million from public share offer
March 23, 2016 – NAMUR. VolitionRx Limited, a life sciences company focused on developing blood-based diagnostic tests for a broad range of cancer types and other conditions, announced today the closing of its previously announced underwritten public offering of 3,769,231 shares of common stock at a public offering price of $3.25 per share. The net proceeds are expected to be approximately $12.8 million.
VolitionRx intends to use the net proceeds of the offering for continued product development, clinical studies, product commercialization, working capital and other general corporate purposes.
VolitionRx is a life sciences company focused on developing blood-based diagnostic tests for different types of cancer. The NuQ® tests are based on the science of Nucleosomics® which is the practice of identifying and measuring nucleosomes in the bloodstream – an indication that cancer is present.
VolitionRx’s goal is to make the tests as common and simple to use, for both patients and doctors, as existing diabetic and cholesterol blood tests. VolitionRx’s research and development activities are currently centred in Belgium as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide.