- Telo Genomics is announcing a $2 million private placement to further its multiple myeloma initiatives
- The funds will go toward launching Telo-MM, the company’s lead product to treat multiple myeloma, as well as advancing related research with the Mayo Clinic
- The capital will also advance the company’s pursuit of ISO 15189 certification and certified Clinical Laboratory Improvement Amendments accreditation
- Telo Genomics is a biotech company pioneering a comprehensive DNA-based platform with powerful applications and prognostic solutions
- Telo Genomics (TSXV:TELO) is unchanged trading at $0.30 per share
Telo Genomics is announcing a $2 million private placement to further its multiple myeloma initiatives.
Telo will use the proceeds to fund:
- The commercial launch of Telo-MM, its lead product, which is being developed to provide important, actionable information to medical professionals in the treatment of multiple myeloma, a form of blood cancer
- Its ongoing collaborative studies with the Mayo Clinic in multiple myeloma
- ISO 15189 certification and certified Clinical Laboratory Improvement Amendments accreditation
- General working capital purposes
The non-brokered private placement will offer units at $0.25 each.
Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.
Each warrant will entitle the holder to acquire one common share for $0.40 for 24 months from the date of issuance.
All securities issued will be subject to a four-month hold period from the date of issuance.
Telo Genomics is a biotech company pioneering a comprehensive DNA-based platform with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology (multiple myeloma) and neurological diseases (Alzheimer’s Disease).
Telo Genomics (TSXV:TELO) is unchanged trading at $0.30 per share.
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