$7.2 Million Sold in New Atairgin Shares

Atairgin Technologies Inc., an Irvine health care technology company, said Wednesday that it has sold $7.2 million worth of new shares to a group of new and existing shareholders.

Investors in the private placement financing include existing shareholder Fremont Ventures and new groups LabInvest Associates Inc. and Oakwood Medical Investors in St. Louis.

Atairgin plans to use the funds mainly for clinical development of its first product, a blood test to diagnose ovarian cancer at its earliest treatable stages.

The test is in a seven-center clinical trial, and the company plans to submit it to the Food and Drug Administration early next year for approval.