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VolitionRx awarded $1.5 million in non-dilutive funding

Stock Markets Aug 03, 2022 10:16
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© Reuters. VolitionRx awarded $1.5 million in non-dilutive funding

VolitionRx (NYSE-A:VNRX) Limited revealed that it has been awarded a further $1.5 million in non-dilutive funding from Namur Invest Capital Risk in Belgium.

The Austin, Texas-based epigenetics company said Namur Invest's award will fund an early access program for Volition's Nu.Q product portfolio at key sites across the EU, UK, and the United States.

In a statement, Volition COO Gaetan Michel said: "Thanks to this latest funding from Namur Invest, we are incredibly excited to launch our early access program and engage industry leaders in the development and adoption of our transformative Nucleosomics technology in a range of exemplifications of our assays.”

READ: VolitionRx Limited inks R&D collaboration deals with Xenetic Biosciences and Salarius Pharmaceuticals in push to develop cancer treatments

Volition applies its Nucleosomics platform to develop simple, easy-to-use, cost-effective blood tests to help diagnose and monitor a range of life-altering diseases, including some cancers and diseases associated with NETosis such as sepsis and COVID-19.

"We will be working with centers of excellence worldwide providing leading clinicians and researchers with exclusive, early access to our Nu.Q product range. This is an enormous step forward for Volition and a critical phase in our path to commercialization,” added Michel. “We would like to thank Renaud Hattiez and his team at Namur Invest for their continued support.”

Meanwhile, Renaud Hattiez, who is the director-general of Namur Invest, noted that they have supported Volition since its inception as they believe in the company's mission to revolutionize the diagnosis and monitoring of life-altering diseases.

“We are delighted to support Volition on the next step of its journey, engaging Key Opinion Leaders from across the globe and bringing Nu.Q to fruition," added Hattiez.

Namur Invest's loan is the latest grant from agencies within the Walloon Region, amounting to more than $14 million in non-dilutive funding since 2016. The new $1.5 million loan to fund Volition's early access program is unsecured, and bears interest at a rate of 6% per year and is repayable over four years with a maturity date of July 31, 2026.

Investors can learn more about Volition's Nu.Q® technology here.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter (NYSE:TWTR): @UttaraProactive

Read more on Proactive Investors CA

Disclaimer

VolitionRx awarded $1.5 million in non-dilutive funding
 

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