March 2, 2009 (FinancialWire) -- Response Genetics, Inc. (NASDAQ: RGDX) (Current Market Cap: US$13.67 Mil.) said that it has entered into a purchase agreement with certain affiliated funds of Special Situations Funds to raise $2 million from the private placement of two million newly issued shares of its common stock, at a purchase price of $1 per share.

The closing of the sale of the shares is scheduled to occur on March 2.

Los Angeles-based Response Genetics is focused on the development and sale of molecular diagnostic tests for cancer. RGI's technologies enable extraction and analysis of genetic information from genes derived from tumor samples stored as formalin-fixed and paraffin-embedded specimens.

In addition to diagnostic testing services, RGI generates revenue from the sales of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry.

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