Visible Genetics, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Private placement of 1.9 mil. shares with U.S. and European institutional investors raises $28.7 mil. A portion of the funds will be used to gear up U.S. marketing and manufacturing efforts for the TruGene HIV-I genotyping kit, an FDA regulatory submission for which is anticipated in the first half of 2000 (1"The Gray Sheet" Dec. 6, p. 14). The proceeds will be directed toward new product development and for general working capital, the Toronto firm says