Mela Sciences (NSDQ:MELA) priced a public offering of 5 million shares of common stock at $3.25 per share, hoping to raise up to $14.9 million.
President & CEO Joseph Gulfo and director Robert Coradini agreed to purchase 43,000 shares at the Dec. 15 closing price of $3.97 per share.
The Irvington, N.Y.-based company plans to use the proceeds for research & development and to commercially launch its flagship skin cancer detection device MelaFind system in the U.S. and Europe, according to a press release.
Mela Sciences won FDA clearance early last month after more than two years in regulatory limbo, and landed CE Mark approval in the European Union in September.
"The FDA approval of MelaFind marks the most important achievement in the company’s history and represents a significant advance for the millions of Americans who are at risk of developing this terrible disease," Gulfo said in November.
Click here to listen to the MassDevice podcast interview with Mela Sciences CEO Dr. Joseph Gulfo.
Here’s a roundup of other dealflow and investment news:
Gates Foundation awards $3.2M to Seventh Sense Biosystems
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Titan Medical lands $5M in financing
Titan Medical Inc. entered into an agreement with Kingsdale Capital Markets for an overnight marketed offering of $5 million worth of the company’s shares. Read more
Radius Health takes final $21.4M tranche in $91M round
Cambridge, Mass.-based biotech company Radius Health took the final $21.4 million tranche from a $91 million financing round announced in May. Read more
LifeServe wins $75K from Lorain Innovation
Oxygen delivery device maker LifeServe won $75,000 from the Lorain Innovation Fund for its Percutaneous Dilational Tracheostomy device. Read more