MC10, a Lexington, Mass.-based wearable sensor developer, raised $9.2 million in an offering of promissory notes and warrants convertible into preferred stock to 18 investors, according to regulatory filing. The company still needs to raise $767,038 to reach the offering’s $10 million total. Get the full story at our sister site, Medical Design & Outsourcing.
Funding Roundup
Profound Medical raises $8m for urology, women’s health devices
Profound Medical (TSX:PRN) said today that it inked an $8 million “bought” deal” financing with a pair of underwriters that it plans to use for its Tulsa-Pro and Sonalleve ablation devices. The funding, by Echelon Wealth Partners and CIBC Capital Markets, involved 10 million units at 80¢ (C$1 ) apiece, consisting of a stock share and […]
Titan Medical closes $2m deal with Chinese investor
Titan Medical (TSX:TMD) said today that it closed a deal with Longtai Medical to convert a $2.0 million distributorship deposit to equity. The move makes Longtai the robotic surgical company’s largest shareholder. In May of 2015, Titan Medical and Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co., inked a deal to […]
Cel-Sci raises $3.5m for head and neck cancer immunotherapy
Cel-Sci (NYSE:CVM) said today that it inked an agreement with institutional investors for a $3.5 million registered direct offering. The company said it plans to offer 1.75 million shares of common stock at $2.00 apiece. In a private placement, Cel-Sci will issue warrants to buy up to 1.75 million shares of common stock. For each share of stock purchased […]
Channel Medsystems adds another $14m for Cerene device
Nearly two months after winning CE Mark approval in European Union for its Cerene device, Channel Medsystems brought in a Series C1 round worth $14.1 million. Participants included previous backers Boston Scientific (NYSE:BSX), Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development and Longwood Fund, the Emeryville, Calif.-based company said. Cerene, a cryogen-based endometrial ablation system […]
Diabetes app developer DarioHealth closes $5m private placements
Digital health company DarioHealth (NSDQ:DRIO) said today that it closed a $5 million private placement with new and existing investors for shares of the company’s common stock and shares of the company’s Series B convertible preferred stock. The Israel-based company said current shareholders accounted for 58% of the securities sold in the offerings. Get the full story […]
Omeros closes $68m public offering
Biopharma company Omeros (NSDQ:OMER) said that it closed a $68.3 million underwritten public offering last week, selling 3 million shares of its common stock at $22.75 apiece. After deducting fees and other expenses, Omeros said it is slated to reel in $63.6 million from the offering. The company plans to use its newly-acquired funds to support R&D for its […]
BTG helps fund immuno-oncology drug-device research programs
BTG (LON:BTG) and the Society of Interventional Oncology said today that it expanded its immuno-oncology/interventional oncology research grant program. The group launched a second round of funding, designed help evaluate minimally invasive, image-guided therapies that use the body’s own immune system to treat cancer. Get the full story at our sister site, Drug Delivery Business News.
Alzeca Biosciences raises $11m for Alzheimer’s diagnostic imaging agent
Alzeca Biosciences said today that it raised $11 million in a Series A round to fund the development of its MRI imaging agent designed for the early diagnosis of Alzheimer’s disease and other neurodegenerative disorders. The company touts its ADx nanoparticle as the first MRI contrast agent to target amyloid – a brain protein linked to […]
ReCor Medical adds another $12m for trial of Paradise renal denervation device
ReCor Medical last week added a $12 million contribution from Otsuka Pharmaceutical (TYO:4578) to the $10 million it raised from the Japanese conglomerate last year for a clinical trial of its Paradise renal denervation device for treating hypertension, ReCor president & CEO Andrew Weiss told MassDevice.com this morning. In May 2016 Otsuka participated in a strategic investment of an unspecified amount; […]
Aradigm lands NIH grant for inhaled, liposomal products
Aradigm Corp. (NSDQ:ARDM) said today that the National Institute of Allergy and Infectious Diseases and the NIH awarded the company a grant to study the treatment of pulmonary non-tuberculous mycobacteria infections with Aradigm’s inhaled liposomal ciprofloxacin products, Linhaliq and Lipoquin. The two-year grant is worth approximately $972,000, according to the Hayward, Calif.-based company. Get the full […]