Over 1,900 Investors Oversubscribed Round after $1.07M Cap Reached while Pre-Ordering +1,000 Cancer Detection Blood Tests
ROCKVILLE, Md., Jan. 26, 2018 /PRNewswire-iReach/ -- 20/20 GeneSystems, Inc. finalized its first equity crowdfunding campaign this week with gross proceeds of $1.07 million, the maximum amount permitted under current SEC rules pursuant to Regulation CF. In so doing, the company became only the second medical technology firm to reach this maximum. 20/20 is now listed as one of the "Top 20 Regulation Crowdfunding Campaigns of All Time" by Crowdfund Capital Advisors. The campaign was posted on First Democracy VC, a joint venture between Indiegogo and MicroVentures and was assisted by marketing firm Enventys Partners.
20/20 develops blood tests with machine learning algorithms for the early detection of cancers. Funds from this campaign will be used to expedite the final development of OneTEST, a blood test to help identify several otherwise deadly cancers at earlier, treatable stages when they can be surgically removed before spreading. OneTEST is built based on data from over 40K patients tested annually over twelve years and uses machine learning, a type of artificial intelligence.
Nearly 2000 crowdfund investors participated in this financing which included an incentive of complimentary cancer tests to those investing above certain thresholds. Over 1,000 test vouchers were earned toward either OneTEST for multiple cancers or PAULAs test for the early detection of lung cancer.
"We see equity crowdfunding as more than a financing tool," remarked 20/20 CEO Jonathan Cohen, "But as a means to identify early adopters who will inform their networks about this new paradigm in early cancer detection."
"We are thrilled to have helped market the first campaign to reach the $1.07M max on MicroVentures, especially one as innovative as 20/20," said Enventys Partners President Roy Morejon.
20/20 plans to initiate a second equity crowdfunding campaign in the coming months under Reg A+, which is used by many companies as a means to raise capital from both accredited and non-accredited investors and to eventually create a trading market in the Company's securities. According to many experts, success under Reg. CF is a positive harbinger of success under Reg. A+.
About 20/20 GeneSystems:
20/20 GeneSystems, Inc. is a Rockville, MD based digital diagnostics company focused on reducing cancer mortality worldwide through early detection. It has pioneered a novel approach called "20/20 Hindsight" of continuous machine learning using large patient data sets of biomarker values with clinical factors such as age, gender, and smoking history to improve the accuracy of the most widely used cancer biomarkers.
20/20 GeneSystems is "testing the waters" under Regulation A of the Securities Act of 1933. This process allows companies to determine whether there may be interested in an eventual offering of its Securities. The company is not under any obligation to make an offering under Regulation A. It may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering might not be made under Regulation A. If the Company does go ahead with an offering, it will only be able to make sales after it has filed an offering statement with the Securities and Exchange Commission (SEC) and the SEC has "qualified" the offering statement. The information in that offering statement will be more complete than the information the company is providing now, and could differ in important ways. You must read the documents filed with the SEC before investing.
No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy the securities can be accepted, and no part of the purchase price can be received until an offering statement on Form 1-A is qualified pursuant to the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualified date. Any person's indication of interest involves no obligation or commitment of any kind.
For more information about Regulation A offerings, including the unique risks associated with these types of offerings, please click on the SEC's investor alert.
Investing in an initial public offering under Regulation A is subject to unique risks, tolerance for volatility, and potential loss of principal, that customers should be aware of prior to making an investment decision.
Some of the statements in this release including statements regarding a future offering of the Company's securities under Regulation A, the potential success of any such offering, and the Company's ability to successfully sell and commercialize its cancer diagnostic products, constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar matters that are not historical facts. In some cases, you can identify forward-looking statements by terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential", "should", "will" and "would" or the negatives of these terms or other comparable terminology.
You should not place undue reliance on forward looking statements. The cautionary statements set forth in the Form C/A filed by the Company with the SEC on December 14, 2017, including in "Risk Factors" and elsewhere therein, identify important factors which you should consider in evaluating our forward-looking statements.
Although the forward-looking statements in this press release are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements, or outcomes. No assurance can be made that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material and adverse. We undertake no obligation, other than as may be required by law.
Media Contact: Megan Jasso, Enventys Partners, 3307157317, firstname.lastname@example.org
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