Intarcia adds $225m for Type II diabetes trial
April 28, 2015 by Brad Perriello
Intarcia Therapeutics took its total raise to more than $1 billion with a $225 million funding round it plans to use to run clinical trials and commercialize its the drug-device combination treatment it’s developing for Type II diabetes.
The debt round, involving convertible notes that pay of 1.5% of future royalties until repaid, values the company at $5.5 billion, Boston-based Intarcia said. Once its ITCA 650 treatment wins U.S. approval, investors have a 2-year window to convert the notes to Intarcia stock at the $5.5 billion valuation, the company said. Read more
Gynesonics raises $3m for VizAblate fibroid device
April 24, 2015 by Mark Hollmer
California’s Gynesonics reported raising $3 million in a new debt offering as it pursues development of its VizAblate fibroid treatment device.
The Redwood City-based company, which disclosed the April 9 offering in a recent regulatory filing, is running a clinical trial for VizAblate. The device is a minimally-invasive radiofrequency ablation system designed to both image and treat fibroids within the walls of the uterus without using incisions. Read more
Lombard Medical takes out $26m loan for Aorfix stent graft
April 29, 2015 by Brad Perriello
Lombard Medical Technologies said it took out a $26 million term loan from Oxford Finance it plans to use in funding the global rollout of its Aorfix stent graft for treating abdominal aortic aneurysms.
Irvine, Calif.-based Lombard said it booked the 1st $11 million from the loan April 24, with another $10 million pegged to “a specific near-term revenue milestone” and the final $5 million contingent on another sales target. Read more
Alliqua prices $30m offering
April 29, 2015 by Brad Perriello
Alliqua Biomedical said it priced a public stock offering worth $30 million for its hydrogel wound care technology.
The Langhorne, Pa.-based company said it plan to offer nearly 6.9 million shares at $4.55 apiece. Read more
Contego Medical raises $6m for embolic filter tech
April 27, 2015 by Mark Hollmer
Contego Medical said it pulled in $5.6 million in a Series B round to advance its embolic protection technology for angioplasty balloon and stent-delivery catheters.
The Raleigh, N.C.-based company said it plans to use the money to expand its leadership, sales and engineering teams. The money is also slated to fuel development of new products with its next-generation integrated embolic protection technology. Read more
