VolitionRx, a life sciences company, announced today that it has completed a private placement with select new and existing accredited investors and received $3 million in gross proceeds from the transaction. Lake Street Capital Markets, LLC served as the transaction’s exclusive US placement agent. VolitionRx reports that it will allocate the proceeds toward operating costs such as its ongoing clinical trials program.

Cameron Reynolds, CEO of VolitionRx, says, “Proceeds from this raise will be used to fund operating costs, including VolitionRx’s ongoing clinical trials program, notably our 4,800-individual colorectal cancer trial, for which analysis commenced in January. We plan to use data from the trial in the initial application for European regulatory approval for our first cancer diagnostic test, which will be for colorectal cancer.”

In the transaction, VolitionRx sold to the accredited investors 1.5 million shares of common stock at a price of $2.00 per share, as well as five-year warrants for purchasing up to an additional 1.5 million shares of common stock at an exercise price of $2.20 per share.

VolitionRx is focused on developing blood-based diagnostic tests for different types of cancer. The basis of these tests can be found in the science of nucleosomics, or the practice of identifying and measuring nucleosomes in the bloodstream — an indication that cancer is present. The company seeks to make these tests mainstream and easy-to-use.

For more information, visit: www.volitionrx.com

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