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Oncocyte secures $29.1 million to advance FDA assay

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IRVINE, Calif. - Oncocyte Corp. (NASDAQ: OCX), a diagnostics technology company, has announced a funding round led by existing investors, including strategic partner Bio-Rad Laboratories, Inc. (NYSE: NYSE:BIO),
Oncocyte Corporation has successfully raised $29.1 million through a private placement of common stock and warrants, aimed at advancing its FDA-cleared VitaGraft™ Kidney assay. This financial boost will support the company's efforts to expand its product offerings in the transplant monitoring sector. The VitaGraft Kidney assay, which measures donor-derived cell-free DNA (dd-cfDNA) to assess kidney transplant health, has already received FDA clearance and is designed to help clinicians detect rejection early, potentially improving patient outcomes. The funds will also be used for general corporate purposes, including working capital and further development of Oncocyte's diagnostic pipeline.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/science/biology/oncocyte-secures-29-1-million-to-advance-fda-assay/ar-AA1yKVrB ]