Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Oncor

This article was originally published in The Gray Sheet

Executive Summary

Gene-based cancer test firm will receive a $4 mil. cash infusion through an agreement to sell its Research Products Division to Intergen and an expanded bank line of credit. The Intergen deal, aggregating $3.2 mil. and anticipated to close on June 29, would include $3 mil. in cash at closing with the remainder to be paid through installments over the next two years. Separately, the Gaithersburg, Maryland company's existing bank line of credit has been increased by $1 mil. with the support of certain directors and a "major shareholder of the company," Oncor states. The Research Products Division had sales to non-affiliates of about $3 mil. in 1997. Oncor estimates the transactions will provide sufficient funds to support operations "at least through the end of the third quarter." Oncor disclosed in March plans to divest all non-oncology ventures in an effort to refocus the company and has been seeking additional funds for its North American operations ("The Gray Sheet" May 11, p. 24)...
UsernamePublicRestriction

Register

MT010274

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel