Isosceles supports VolitionRx to uplist onto the NYSE

Isosceles supports VolitionRx to uplist onto the New York Stock Exchange

Isosceles was selected to support the uplist because of their experience of supporting rapidly growing international businesses and publicly listed organisations.

VolitionRx is developing a simple, accurate and cost-effective blood test to detect cancer and other diseases which will revolutionise the way cancer is diagnosed. Their goal is to make non-invasive cancer blood tests as common and simple to use as existing diabetic and cholesterol tests on similar formats. The technique is currently being tested in several for colorectal, prostate and lung cancers with exceptional results.

The Situation

Isosceles was appointed by VolitionRx to support the Company’s uplist onto the New York Stock Exchange on 6th February 2015.  On 11th March, VolitionRx was invited to ring the closing bell to mark the end of the trading day on the NYSE.

The ability to trade shares on the NYSE is a key milestone in the successful growth of VolitionRx, enabling greater levels of funding to be raised for clinical trials and to develop the diagnostic technique so this can be widely available in hospitals and clinics for the early detection of cancers.

Why Isosceles?

We were selected as finance partner because of our experience in developing the processes and controls required to support rapidly growing international businesses along with our technical competence and experience of dealing with publicly listed organisations.

Isosceles’ experience with pharmaceutical research companies and US businesses was also highly valued by VolitionRx.

The atmosphere on the trading floor was initially quiet and calm, but a real buzz of excitement slowly grew as the business reporters gave live feed on the closing position of the markets. It was a proud moment for all those involved in the growth of VolitionRx to ring the closing bell and I was delighted to be invited to share this with the team.

Mike O'Connell, CEO, Isosceles and CFO, VolitionRx

Isosceles' Role

  • Mike O’Connell appointed as Chief Financial Officer of VolitionRx
  • Supported the uplisting process – financial input to the Prospectus (S1), Capitalisation Table calculation, information for investment bankers
  • Preparation of annual and quarterly reports in accordance with the Securities Exchange Act and US Gaap

On an ongoing basis Isosceles are providing:

  • Financial support for future SEC filings
  • Monthly consolidation of the Group companies
  • Developing long term financial plans
  • Managing the Financial Controllers in the local Singaporean and Belgian subsidiaries

The Results

On 6th February 2015 VolitionRx was successfully uplisted onto the NYSE MKT and raised in excess of $10M gross by way of public offering of common stock.