Opgen Inc. started an underwritten public offering of its common shares.
The precision medicine company plans to use the net proceeds for research and development, including the continued development and manufacturing of its Acuitas AMR Gene Panel tests, which are in-vitro diagnostic tests designed to detect bacterial nucleic acids.
The proceeds will also fund acquisitions of products and technologies, capital expenditures as well as working capital.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Gaithersburg, Md.-based Opgen develops molecular information products and services for the healthcare industry. It uses molecular diagnostics and bioinformatics to help fight infectious diseases.