• Multi-product portfolio addressing a significant total addressable market
• Preparing for rapid global commercial growth
• Upcoming value inflection points include final clinical validation, strategic partnerships, and product launches

Rhythm Biosciences, a cancer diagnostics company, has announced a placement issue to sophisticated, professional and institutional investors to raise up to $3.75 million. The placement will involve the issue of approximately 41.6 million new, fully paid ordinary shares at $0.09 per share, representing a 14.3% discount to the last close price. Directors will also participate in the placement, subject to shareholder approval, for $0.3 million. The funds raised will be used for the commercialization of the ColoSTAT multiplex test kit, including final testing and product launch preparation, as well as driving growth of the geneType product suite through geographical expansion and increased adoption. The remaining funds will be used for general working capital and capital raising costs. Rhythm Biosciences is well-positioned for rapid global commercial growth, with upcoming value inflection points including final clinical validation of ColoSTAT, establishment of strategic partnerships for geneType and ColoSTAT, and the launch of new products such as a lung cancer screening assay.

Rhythm Biosciences is preparing for rapid global commercial growth, with upcoming value inflection points including final clinical validation of ColoSTAT, establishment of strategic partnerships for geneType and ColoSTAT, and the launch of new products such as a lung cancer screening assay.