VolitionRx Raises Funds To Support CRC Trials


VolitionRx has completed a private placement to selected existing and new accredited investors of 1.5mn shares of common stock at a price of US$2.00 per share, as well as five-year warrants to purchase up to an additional 1.5mn shares of common stock at an exercise price of US$2.20 per share, which resulted in gross proceeds to VolitionRx of US$3mn.

According to the company, proceeds from this raise will be used to fund operating costs, including VolitionRx' ongoing trials programme, notably 4,800-individual colorectal cancer (CRC) trials, for which analysis commenced in January. The company plans to use data from the trial in the initial application for European regulatory approval for the first cancer diagnostic test for CRC.

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Related sectors of this article: Medical Devices, Laboratory Diagnostics, Diagnostics
Geography: Belgium