News by Subject
News by Disease
News by Date
Post Your News
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
US & Canada
Post an Event
News | News By Subject | News by Disease |
News By Date | Search News
MDxHealth, Inc. Raises $23.6 Million in Private Placement
6/26/2013 6:51:46 AM
Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!
MDxHealth Completes EUR 18 Million ($24M) Equity Raise
LIEGE, BELGIUM--(Marketwired - Jun 25, 2013) - MDxHealth SA (EURONEXT BRUSSELS: MDXH), a leading molecular diagnostics company that develops and commercializes epigenetic tests to support the diagnosis and treatment of cancer patients, announced today that it successfully raised an aggregate amount of EUR 18 million in a private placement through the issuance of 8,737,683 new shares at a subscription price of EUR 2.06 per share (which represents the average closing price of the company's shares during the 30 preceding calendar days). Certain funds managed by Valiance Asset Management Ltd participated in the private placement for a total amount of 4,368,932 new shares and Biovest Comm. VA, the investment company of Rudi Mariën, participated in the private placement for a total amount of 2,427,184 new shares. The remaining 1,941,747 new shares were underwritten by Petercam who acted as sole lead manager in the transaction, and will be placed with a limited group of investors.
The net proceeds of the private placement will be used to support and scale-up the Company's U.S.-based CLIA-registered commercial laboratory, its US-based sales and marketing efforts, European and global commercial efforts for its Clinical Molecular Diagnostics (ClinicalMDx) and Pharmaco Molecular Diagnostics (PharmacoMDx) solutions and services to clinicians and pharmaceutical customers, and to accelerate proprietary product development.
The 1,941,747 new shares underwritten by Petercam with the view to be placed with investors are expected to be admitted to listing on NYSE Euronext Brussels immediately following their issuance. The other new shares are expected to be listed in the near future following the approval and publication of a listing prospectus.
"This financing marks a major milestone in the growth and success of our Company," stated Dr. Jan Groen, CEO of MDxHealth. "In response to the increasing demand for our ConfirmMDx™ for Prostate Cancer test in the U.S., we will expand our commercial efforts by investing in personnel and infrastructure to ensure we are well positioned for new tests emerging from our product pipeline. We will also use proceeds to further emphasize our global commercialization efforts, offering our cutting edge products and services to clinical and pharmaceutical customers, with the goal of accelerating and diversifying our revenue base."
MDxHealth is a molecular diagnostics company that develops and commercializes advanced epigenetic tests for cancer assessment and the personalized treatment of patients. The Company's first commercial product, ConfirmMDx™ for Prostate Cancer, has been shown to help distinguish patients who have a true-negative biopsy from those who may have undetected cancer. MDxHealth helps to address a large and growing unmet medical need for better cancer diagnosis and treatment information. The company has a proprietary platform and a strong epigenetic product pipeline focused on the development of products for prostate, brain and lung cancers. The company is based in Irvine, California with a European headquarters in Liege, Belgium. For more information visit MDxHealth's website at www.mdxhealth.com.
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx and PredictMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners.
To access the PDF version, please click here: http://hugin.info/137314/R/1711813/567989.pdf
For more information:
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 364 20 70
UK: +44 20 7318 2955
Cell: +44 7968 022075
The Trout Group
US: +1 646 378 2952
Help employers find you! Check out all the jobs and post your resume.