Oncor sells division to improve liquidity:
This article was originally published in Clinica
Executive Summary
Oncor has sold its research products division, which had sales to non-affiliates of around $3 million, to Intergen for $3.2 million. In addition the company, which is attempting to commercialise its INFORM HER-2/neu test for prediction of breast cancer recurrence, will receive cash infusions from its bank, following further credit guarantees from certain directors and a shareholder. The $4 million will be used to support the operations of the Gaithersburg, Maryland-based company at least until the end of the third quarter of this year and pay off some of its debt.