VolitionRx Awarded $1.5 Million in Non-Dilutive Funding

Rhea-AI Summary

VolitionRx Limited (NYSE AMERICAN: VNRX) announced a $1.5 million non-dilutive funding from Namur Invest Capital Risk in Belgium. This funding will support an early access program for Volition's Nu.Q® product portfolio across the EU, UK, and USA. COO Gaetan Michel expressed excitement for advancing Nucleosomics™ technology and engaging industry leaders. The funding is part of over $14 million in grants from Walloon Region since 2016, and the loan will bear a 6% interest rate, repayable over four years, maturing on July 31, 2026.

Positive

• Secured $1.5 million in non-dilutive funding for product development.
• Funding supports the launch of an early access program for Nu.Q® products.
• Part of over $14 million received from Walloon Region since 2016, indicating strong financial backing.

Negative

• Funding is a loan, which introduces repayment obligations.
• Potential market acceptance risks regarding Nu.Q® tests.

HENDERSON, Nev., Aug. 3, 2022 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company, has announced it has been awarded a further $1.5 million non-dilutive funding from Namur Invest Capital Risk in Belgium.

Namur Invest's award will fund an early access program for Volition's Nu.Q® product portfolio at key sites across the EU, UK, and USA.

Gaetan Michel, Chief Operating Officer of Volition, said: "Thanks to this latest funding from Namur Invest we are incredibly excited to launch our early access program and engage industry leaders in the development and adoption of our transformative Nucleosomics™ technology in a range of exemplifications of our assays.

"We will be working with centers of excellence worldwide providing leading clinicians and researchers with exclusive, early access to our Nu.Q® product range. This is an enormous step forward for Volition and a critical phase in our path to commercialization.  We would like to thank Renaud Hattiez and his team at Namur Invest for their continued support."

Renaud Hattiez, Director General of Namur Invest, said: "We have supported Volition since its inception and wholeheartedly believe in the company's mission to revolutionize the diagnosis and monitoring of life-altering diseases. We are delighted to support Volition on the next step of its journey, engaging Key Opinion Leaders from across the globe and bringing Nu.Q® to fruition."

Namur Invest's loan is the latest grant from agencies within the Walloon Region, amounting to more than $14 million in non-dilutive funding since 2016.  The new $1.5 million (Euro 1.5 million) loan to fund Volition's early access program is unsecured, bears interest at a rate of 6% per year and is repayable over four years with a maturity date of July 31, 2026.

Volition is developing simple, easy-to-use, cost-effective blood tests to help diagnose and monitor a range of life-altering diseases in both humans and animals. For more information about Volition's Nu.Q® technology go to: www.volition.com

About Volition

Volition is a multi-national epigenetics company that applies its Nucleosomics™ platform through its subsidiaries to develop simple, easy to use, cost effective blood tests to help diagnose and monitor a range of life-altering diseases including some cancers and diseases associated with NETosis such as sepsis and COVID-19. Early diagnosis and monitoring have the potential to not only prolong the life of patients but also improve their quality of life. The tests are based on the science of Nucleosomics™, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid - an indication that disease is present. Volition is primarily focused on human diagnostics and monitoring but also has a subsidiary focused on animal diagnostics and monitoring.

Volition's research and development activities are centered in Belgium, with an innovation laboratory and office in the U.S. and additional offices in London and Singapore.

The contents found at Volition's website address are not incorporated by reference into this document and should not be considered part of this document.  The address for Volition's website is included in this document as an inactive textual reference only.

Volition Enquiries:
Louise Batchelor/Debra Daglish, Volition, mediarelations@volition.com , +44 (0)7557 774620

Safe Harbor Statement

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to, among other topics, the use of proceeds from the additional funding, the launch and success of Volition's early access program, , and expectations related to the potential uses, benefits and effectiveness of Volition's Nu.Q® products. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, a failure by the marketplace to accept Volition's Nu.Q® tests; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and its intended products may become obsolete due to the highly competitive nature of the diagnostics and disease monitoring markets and their rapid technological change; downturns in domestic and foreign economies; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

Nucleosomics™ and Nu.Q® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries.  Additionally, unless otherwise specified, all references to "$" refer to the legal currency of the United States of America.

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SOURCE VolitionRx Limited

FAQ

What is the recent funding announcement for VNRX?

VolitionRx secured $1.5 million in non-dilutive funding from Namur Invest Capital Risk for its early access program.

How will the $1.5 million funding impact VNRX?

The funding will support the rollout of the Nu.Q® product portfolio across key regions, enhancing commercialization efforts.

What are the loan terms for the funding received by VNRX?

The funding bears a 6% interest rate, is unsecured, and is repayable over four years, maturing on July 31, 2026.