Diomics raised $1.1 million as part of a fully subscribed non-brokered equity offering. The subscription, which started on April 15th, lured five investors. No offering was previously initiated by the company under a registration exemption with the SEC.
The company commercializes a technology platform, called Diomat, which picks up biologic materials from a variety of surfaces and release the majority of the DNA from the sample into an extraction solution with little or no sample retained with the capture matrix. The company developed its first product, the X-Swab, designed for forensic and diagnostic applications.
The company, headquartered in Carlsbad CA, is led by John Steel (President and CEO). Diomics elected to keep its revenues undisclosed.
The board of directors includes James Woodcock, Kevin Butler, Kirk Avery, Paul Buss and William Ballard.
Amount offered: $1.1 million
Amount placed: $1.1 million
First sale: 04-15-2014
Data as of: 04-21-2014