ANGLE, a medical diagnostic company specialising in cancer diagnostics and foetal health, has issued bonds through a private placement to raise net proceeds of £9.6m ($14m).
Proceeds from the offering will be used for clinical studies involving ovarian cancer, prostate cancer and breast cancer liquid biopsy, to drive parsortix system sales, for marketing and resaerch and development activities, and meeting working capital requirements.
The University of Pittsburgh has awarded a sub-contract to Incube Labs, a multi-disciplinary life sciences research and development lab, to collaborate for the development of an implantable neuromodulation therapy, which helps restore bladder function in spinal cord injury patients.
The sub-contract, which is a part of the multi-year $10m US Department of Defense contract awarded to the university, includes the submission of an investigational device exemption (IDE) to the US FDA. Upon approval, the IDE will allow the company to launch clinical trials on the device and commercialisation of the technology.
Zebra Medical Vision, a machine learning radiology start-up based in Israel, has raised $12m in a funding round led by Intermountain Healthcare and existing investors Khosla Ventures and Marc Benioff.
Zebra Medical Vision is a developer of medical imaging research platforms and intends to work with Intermountain, a healthcare provider based in Utah, to develop imaging algorithms to improve patient care.
The proceeds will be used to develop Zebra Medical’s imaging analytics engine, and neural networks for providing automated diagnostic algorithms for radiologists.
OncoSec Medical Incorporated has entered a definitive agreement with a single healthcare-dedicated institutional fund to raise gross proceeds of $10m.
The company has agreed to offer 5,509,642 shares of its common stock at price of $1.815 a share, or pre-funded warrants in lieu thereof. Each warrant will have an exercise price of $1.69 a share and will be immediately exercisable after closing of the transaction, and may be exercised for nine years.
The proceeds from the offering will be used for clinical trial and research and development expenses. Rodman & Renshaw is an exclusive placement agent for the offering, which is expected to close on or before 12 May 2016.
Quest Diagnostics Incorporated, a diagnostic information services provider, has announced public offering of senior notes to raise $500m.
The notes, due 1 June 2026, will offer an interest rate of 3.45% and will be priced at 99.723% of the principal amount.
The net proceeds from the offering, which is expected to be completed on 26 May 2016, will be used partly to clear outstanding debts taken under its senior unsecured revolving credit and secured receivables credit facilities, and partly for general corporate purposes.