Keep up with the latest news from Wisconsin’s innovation community with these recent headlines.
—Madison-based Exact Sciences (NASDAQ: EXAS), whose flagship product is a stool-based screening test for colorectal cancer, issued a recall of 15 pieces of equipment used to mix stool samples in preparation for testing at the company’s lab. According to the FDA, the defect posed no immediate danger of death or other serious injury.
—Exact also announced that it is selling 7 million shares of stock at $35 per share. The underwriters of the stock offering have the option to purchase up to 1.05 million additional shares, Exact said, bringing the total potential cash haul to more than $281 million. The company plans to use some proceeds from the offering to fund product development, add more laboratory space, and increase manufacturing capacity.
—The Neenah-based Winnebago Seed Fund raised $11 million from investors. The fund is part of the Badger Fund of Funds, a public-private program aimed at supporting startups in the state.
Another “recipient” fund created under the fund-of-funds program, the Idea Fund of La Crosse, raised an additional $4 million from investors, according to a press release. That comes on top of the $8 million that the fund said it had raised in February.
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