Benzinga | Jan 6, 2021 08:27AM EST

VolitionRx Announces $4M In Non-Dilutive Funding

AUSTIN, Texas, Jan. 6, 2021 /PRNewswire/ -- VolitionRx Limited (NYSE:VNRX) ("Volition") today announced it has been awarded additional non-dilutive funding totaling approximately $4 million from the Walloon Region and Namur Invest, Belgium. To date, Agencies from the Walloon Region have awarded Volition an aggregate of approximately $13 million in non-dilutive funding including this most recent award. This additional funding consisted of a cash grant of $1.3 million and $2.7 million in loans.

"It is a key part of our financing strategy to actively seek non-dilutive funding as this provides additional cash at favorable terms to support the Company's continued development, and this latest funding takes the total non-dilutive funding to-date from all sources to over $15 million," commented Cameron Reynolds, President and Chief Executive Officer of Volition. Mr. Reynolds added, "We are delighted with the great progress we are making on so many fronts and look forward to achieving many milestones throughout this year."

Dr. Gaetan Michel, Chief Executive Officer of Volition's subsidiary, Belgian Volition SRL, commented, "We are delighted with the financial assistance that we have received from the Walloon Region and other agencies and would like to thank Monsieur Willy Borsus, Vice-President of the Walloon Government, the Walloon Minister for Economy as well as Nicolas Delahaye and Renaud Hattiez from Namur INVEST for their continued support. This funding will support the purchase and fit-out of Silver One, our new production facility and a number of cutting-edge projects."