Investment round completed
Cancer diagnostics specialist OncoMethylome Sciences SA raised €10.6 million from institutional and qualified investors, placing 1,063,351 new shares at €10.00 per share. The share offering was more than two times oversubscribed.
Herman Spolders, CEO of OncoMethylome, based in Liege, Belgium, said, “I am very pleased that we have secured this additional funding, which reinforces our financial position and will support our product development and clinical trials. The funds were raised from a broad range of institutional investors thus further strengthening our shareholder base and share liquidity.”
OncoMethylome, which is listed on the Euronext markets in Brussels and Amsterdam is developing gene methylation tests for detecting and treating cancer. The tests are designed to help accurately detect cancer in early stages of cancer development, predict a patient’s response to drug therapy, and predict the likelihood of cancer recurrence.
The company has ten products in development. It collaborates with molecular oncology research centres including Johns Hopkins University, and has commercial and collaborative partnerships with Veridex, a Johnson & Johnson subsidiary, Schering-Plough, Millipore Corporation’s BioScience Division, and Exact Sciences Corp.
OncoMethylome’s products are based on methylation technology invented by Johns Hopkins.
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