Chardan Advises NovellusDX in Cross-Border Biotech Merger

Tuesday, September 18, 2018 General News
Email Print This Page Comment bookmark
Font : A-A+

NEW YORK, Sept. 18, 2018 /PRNewswire/ -- Chardan, a global investment bank, announced today that the firm acted as exclusive

financial advisor to NovellusDX, Ltd., a leader in functional genomics, for the firm's agreement to merge with a newly formed Israeli subsidiary of Cancer Genetics, Inc. (NASDAQ: CGIX).

Shareholders of NovellusDx will receive stock equal to approximately

49% of the equity of Cancer Genetics on a fully diluted basis (with certain adjustments). Cancer Genetics will be the surviving entity and expects to remain listed on the Nasdaq Stock Market.

This transaction will combine Cancer Genetics' scale, expansive test portfolio and broad data set related to tumor biology, cultivated over more than a decade, with NovellusDx's proprietary technology and machine learning capabilities to form a leading, oncology-focused precision medicine company. The aim of the combined Company is to accelerate and enhance therapeutic development, effectively matching patients to targeted therapies to improve treatment success rates for biopharma companies.

"Chardan was very happy to work with NovellusDx and its dedicated investors on this complicated cross-border transaction," said Chardan Partner, Shai Gerson. "Executing on this overseas M&A mandate is another step in Chardan's growing M&A platform capabilities."

About Chardan

Chardan provides a full suite of Global Investment Banking services designed for emerging growth companies. Our full range of services includes capital raising, merger and acquisition advisory, strategic advisory, equity research, institutional trading and market making. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.

To learn more about Chardan, visit www.chardan.com

Media Contact:  Emily Levine, Chardanelevine@chardan.com (646) 465-9018

Tom Rozycki, Prosek Partnerstrozycki@prosek.com(646) 503-5657

Cision View original content:http://www.prnewswire.com/news-releases/chardan-advises-novellusdx-in-cross-border-biotech-merger-300714676.html

SOURCE Chardan Capital Markets, LLC



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store