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, Chardan
elevine@chardan.com
(646) 465-9018
Tom Rozycki, Prosek Partners
trozycki@prosek.com
(646) 503-5657
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SOURCE Chardan Capital Markets, LLC