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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Sequenom grosses $51.6 million for diagnostics development: Firm will gross $51.6 million through the sale of 12.4 million shares of its stock at $4.15 each to "certain investors" under an agreement announced May 12. The private placement is expected to close May 17. Proceeds will be used for R&D and product commercialization efforts. The San Diego firm says it expects launch a noninvasive, laboratory-developed DNA test for Down syndrome (Trisomy 21) by the end of 2011 and file a PMA application for the test by the end of 2012. Sequenom also is aiming to launch a laboratory-developed test for age-related macular degeneration in the first half of 2011. Jefferies & Company and Lazard Capital Markets were placement agents for the stock offering

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