Response Genetics Gets $7.8M In PIPE

Los Angeles-based Response Genetics, a developer of diagnostics test for cancer, said today that it has raised $7.8M in a private placement. The publicly traded firm did not disclose the name of its new investors. The firm said it sold approximately 5.3M shares at $1.50 per share in the financing. Response Genetics is developing technology to extract and analyze genetic information from tumors, to help in cancer diagnostics; the firm's technology is based on research originally developed at USC. The company is headed by Thomas A. Bologna.