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Chronix Biomedical unveils details on its $8 million unregistered offering
XDATA - July 18th 2017
After forty financial backers subscribed to 41% of its equity financing round, Chronix Biomedical disclosed initiating a first close after raising $3.31 million. The subscription to the $8 million non-brokered private placement started on June 30th according to information filed with the SEC. The offering will remain open until June 2018 while an additional $4.69 million worth of securities is sold to investors. The equity offering's estimated net proceeds will amount to $7.75 million which excludes $250,000 to be paid toward officers' salaries. A total of twelve unregistered securities offerings closed by the company raised an estimated $42.83 million.
The company is a molecular diagnostics organization developing blood tests primarily for cancer, including companion diagnostics and tests for detecting minimal residual disease (small numbers of leukaemic cells that remain in patients in remission). The company offers its tests through its own laboratories under CLIA certification.
The company is headquartered in San Jose CA. Chronix Biomedical elected to keep its revenues undisclosed.
The executive team includes Ekkehard Schuetz, Howard B Urnovitz and John Dipietro.
The board of directors includes David MacKenzie, Michael Jerstad, Paul Freiman, Robert Leppo, William Boeger and William Mitchell.

The company has raised an estimated total of $46.14 million via private unregistered security offerings.
Offering recap
Status: First close
Company: Chronix Biomedical
Industry: Biotechnology
Amount offered: $8 million
Amount placed: $3.31 million
SEC filing: Source
First sale: 06-30-2017
Data as of: 07-18-2017
Similar transactions 2015 Map: Biotech Category
2017-10-31 Cynvenio Biosystems unveils $3 million unregistered mezzanine placement
2017-10-30 PGDx files for first close after raising 59%
2017-10-16 Interpace Diagnostics Group closes $5 million warrant placement
2017-09-26 Bioarray Therapeutics reported the completion of a $5.22 million financing round
2017-09-21 $350,000 raised by CirculoGene Diagnostics as part of its mezzanine investment round
Largest Transactions by Amount Raised : Diagnostic Products
 Entity NameOffer Date $ SoughtDelta $ Sought$ RaisedSecurity OfferedIndustryFiling Type/
SEC Source
 Guardant Health2017-05-09320,419,351320,419,351320,419,351EquityBiotechnologyoriginal
 Adaptive Biotechnologies2015-05-05195,099,954195,099,954195,099,954EquityBiotechnologyoriginal
 True Health Group2017-01-26157,000,000157,000,000157,000,000EquityOther Health Careoriginal
 NantOmics2015-06-30150,000,000150,000,000150,000,000EquityBiotechnologyoriginal
 Adaptive Biotechnologies2014-04-04104,999,480104,999,480104,999,480EquityBiotechnologyoriginal
All dollar amounts are derived from filings lodged with the SEC by the company under current and previous names.
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