Navigation Links
VolitionRX Raises Over $1 Million To Begin Clinical Trials of Blood Based Diagnostic Tests
Date:5/14/2012

SINGAPORE, May 14, 2012 /PRNewswire/ -- VolitionRX Limited (VNRX.OB), a life sciences company focused on developing blood-based diagnostic tests, is pleased to announce the closure of a private placement of 582,510 shares at $1.75 per share (a total of US$$1,019,375.00 raised). The proceeds will in part be used to fund clinical trials of VolitionRX's first NuQ™ test kits.

Shares in the offering were priced at $1.75 per ordinary share, which entitles the holder to one share of common stock and a warrant to purchase a half share of common stock at $2.60 per share valid for four years.  In addition to the capital raised, thirteen parties including directors, employees and consultants converted salaries and outstanding debt owed to them by VolitionRX on the same terms, for a total of US$184,776.74 converted. Following the closure of the private placement and conversion, there will be 11,174,497 fully-diluted shares in VolitionRX.

Funds raised in the offering will be used for initial clinical trials of VolitionRX's NuQ kits, blood-based diagnostic tests based on VolitionRX's Nucleosomics technology; as well as for ongoing capital needs. The tests fall into 3 main types and are intended to be used together to complement each other and to provide a total diagnostic solution:

  • NuQ-X™: To detect the presence of cancer by detecting nucleosomes containing specific nucleotides.
  • NuQ-V™: To detect cancer and nucleosomes containing specific histone variants.
  • NuQ-M™: To detect cancer by detecting nucleosomes containing modified histones, the proteins that package and order DNA into nucleosomes.

Cameron Reynolds, CEO of VolitionRX says: "We're delighted that we have raised over $1 million, which will allow us to begin clinical trials of our tests, both in-house and in independent external trials in multiple centers across Europe and the rest of the world. We are very encouraged by the promising results we've seen in initial validations of our NuQ tests and are hopeful that we'll see similarly good results in larger clinical trials."

In April 2012, Belgian Volition, VolitionRX's research and development subsidiary for Nucleosomics, moved into a new office and lab space. The new, much larger, space comprises an office, meeting room and a laboratory, and is a standalone facility, which is required for ISO certification and European and FDA approvals.

About VolitionRX
VolitionRX is a life sciences company whose goal is to make its non-invasive blood tests for cancer as common and simple to use as existing diabetic and cholesterol tests on similar formats.

VolitionRX products are based on a unique and proprietary technology platform, Nucleosomics™, which enables the measurement and identification of nucleosomes in the blood, using simple, inexpensive blood tests.

VolitionRX is managed by a team with extensive experience in diagnostics and commercialization. VolitionRX's development activities are currently centered in Belgium and will be augmented by commercialization work in Singapore with a focus on bringing its revolutionary diagnostic products to market first in Europe, then the U.S. and worldwide.

VolitionRX is quoted on the OTC Bulletin Board in the United States of America, under the symbol VNRX.OB.

Forward-Looking Statements: Statements in this press release may be "forward-looking statements". Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "optimizing," "potential," "goal," and similar expressions, as they relate to the Company, its business or management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's filings with the Securities and Exchange Commission.

 


'/>"/>
SOURCE VolitionRX Limited
Copyright©2010 PR Newswire.
All rights reserved

Related biology news :

1. Study raises questions about use of anti-epilepsy drugs in newborns
2. Analysis raises atmospheric, ecologic and economic doubts about forest bioenergy
3. Biotech firm spun off from Childrens Hospital raises $7 million to advance vascular treatment
4. Celebrity Golf Classic raises $553,443 for Seena Magowitz Foundation
5. Study pinpoints genetic variation that raises a risk linked to bisphosphonates
6. Crowdfunding science: Student raises cash online to follow a flying fox
7. Paternity of subordinates raises cooperative effort in cichlids
8. Fading ability to taste iron raises health concerns for people over age 50
9. Extreme weight gain raises risk for recurrence among breast cancer survivors
10. Missing sugar molecule raises diabetes risk in humans
11. FASEB praises President Obama for increasing funding for research in his FY 2012 budget
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/14/2016)... HANOVER , Allemagne, March 14, 2016 /PRNewswire/ ... http://www.apimages.com ) - --> - ... ) - --> ... les solutions biométriques, fournit de nouveaux lecteurs d,empreintes ... lecteur LF10 de DERMALOG sera utilisé pour produire ...
(Date:3/10/2016)... , March 10, 2016 ... market research report "Identity and Access Management Market by ... Compliance, and Governance), by Organization Size, by Deployment, by ... published by MarketsandMarkets, The market is estimated to grow ... Billion by 2020, at a Compound Annual Growth Rate ...
(Date:3/9/2016)... Nigeria . Recently, ... 23,000 public service employees either did not exist with ... unlawfully.    --> Nigeria . ... than 23,000 public service employees either did not exist ... salary unlawfully.    --> DERMALOG, the biometrics ...
Breaking Biology News(10 mins):
(Date:4/28/2016)... (PRWEB) , ... April 28, 2016 , ... ... and ongoing support for Connecticut's innovative, growing companies, today announced the launch of ... and financial technology (fintech) companies. , “VentureClash looks to attract the ...
(Date:4/27/2016)... ... ... Cambridge Semantics, the leading provider of Smart Data analytic and data ... to The Silicon Review’s “20 Fastest Growing Big Data Companies of 2016.” , ... of end users facing some of the most complex data challenges in the industry,” ...
(Date:4/27/2016)... , April 27, 2016 ... (CSE: NSK) (OTCPink: NSKQB) ( Frankfurt ... an ihre Pressemitteilung vom 13. August 2015 die ... ihre Finanzen um zusätzliche 200.000.000 Einheiten auf 400.000.000 ... Dollar zu bringen. Davon wurden 157.900.000 Einheiten mit ...
(Date:4/27/2016)... Baltimore, MD (PRWEB) , ... April 27, 2016 ... ... appointed Greg Lamka, PhD to its Scientific Advisory Board. Dr. Lamka will assist ... of plant pathogen detection. , PathSensors deploys the CANARY® test platform for ...
Breaking Biology Technology: