Venaxis, Inc. Closes Public Offering of Common Shares

            Venaxis, Inc. Closes Public Offering of Common Shares

PR Newswire

CASTLE ROCK, Colo., April 8, 2014

CASTLE ROCK, Colo., April 8, 2014 /PRNewswire/ --Venaxis, Inc. (NASDAQ:APPY),
an in vitro diagnostic company focused on obtaining FDA clearance for and
commercializing its CE Marked APPY1™ Test, a rapid, multiple biomarker-based
index assay for identifying patients that are at low risk for appendicitis,
today announced the closing of its previously announced underwritten public
offering of 8,335,000 shares of its common stock at a price to the public of
$2.40 per share. In addition, Venaxis has granted the underwriters a 30-day
option to purchase up to an additional 1,250,250 shares of common stock solely
to cover over-allotments, if any.

Canaccord Genuity acted as sole book-running manager for the offering and
Craig-Hallum Capital Group acted as lead manager.

The net proceeds from the sale of the shares of common stock, after deducting
the underwriting discount and the other offering expenses, total approximately
$18.4 million. Venaxis intends to use the net proceeds from the offering
together with the Company's existing cash resources, for working capital and
other general corporate purposes, including overhead expenses while the
Company seeks FDA clearance for APPY1, for initial commercialization
activities of APPY1 in the U.S., for sales and marketing activities in the
E.U. and to advance product development activities to attempt to expand and
improve performance of the test.

The offering was made pursuant to a shelf registration statement (File No.
333-191853) (including a prospectus) previously filed with and declared
effective by the U.S. Securities and Exchange Commission (SEC). A copy of the
final prospectus supplement and the accompanying prospectus describing the
terms of the offering was filed with the SEC on April 3, 2014. Copies of the
prospectus supplement and accompanying prospectus relating to the offering
may be obtained by contacting Canaccord Genuity Inc., Attention: Syndicate
Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, or by
telephone at (617)371-3900. Electronic copies of the prospectus supplement
and the accompanying prospectus are also available free of charge on the
website of the SEC at

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of any such jurisdiction.

About Venaxis, Inc.
Venaxis, Inc. is an in vitro diagnostic company focused on the clinical
development and commercialization of its CE Marked APPY1 Test, the Company's
rapid, protein biomarker-based assay for appendicitis. This unique
appendicitis test has projected high sensitivity and negative predictive value
and is being developed to aid in the identification of patients at low risk
for acute appendicitis, allowing for more conservative patient management.
The APPY1 Test is being developed initially for pediatric, adolescent and
young adult patients with abdominal pain, as this population is at the highest
risk for appendicitis and has the highest risk of long-term health effects
associated with CT imaging. While FDA clearance is being sought, a limited
commercial launch for the APPY1 Test is ongoing in select European countries.
For more information, visit

Forward-Looking Statements
This press release includes "forward-looking statements" of Venaxis, Inc.
("Venaxis") as defined by the Securities and Exchange Commission ("SEC"). All
statements, other than statements of historical fact, included in this press
release that address activities, events or developments that Venaxis believes
or anticipates will or may occur in the future are forward-looking
statements. These statements are based on certain assumptions made based on
experience, expected future developments and other factors Venaxis believes
are appropriate in the circumstances. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control
of Venaxis. Investors are cautioned that any such statements are not
guarantees of future performance. Actual results or developments may differ
materially from those projected in the forward-looking statements as a result
of many factors, including our ability to obtain FDA clearance or approval,
maintain CE Marking, cost effectively manufacture and generate revenues from
the APPY1 Test at a profitable price point, execute agreements required to
successfully advance the company's objectives, retain the management team to
advance the products, overcome adverse changes in market conditions and the
regulatory environment, obtain and enforce intellectual property rights, and
realize value of intangible assets. Furthermore, Venaxis does not intend (and
is not obligated) to update publicly any forward-looking statements. The
contents of this press release should be considered in conjunction with the
risk factors contained in Venaxis' recent filings with the SEC, including its
Form 10-K for the year ended December 31, 2013, filed with the SEC on March
28, 2014.

Venaxis and APPY1 are trademarks of Venaxis, Inc.

For Investors and Media:
Tiberend Strategic Advisors, Inc.
Joshua Drumm, PhD,; (212) 375-2664
Claire Sojda,; (212) 375-2686

SOURCE Venaxis, Inc.

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