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Laser Photonics, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Raises approximately $9.3 mil. in private placement of restricted common stock shares at $4.50 each to institutional and accredited investors. Pennsylvania Merchant Group served as placement agent. Net proceeds will support clinical trials and marketing of the firm's excimer laser treatment for psoriasis; initial testing is complete, and a 510(k) submission is planned. Funds also will go towards manufacturing expenses and working capital. The Carlsbad, California firm is also developing a transmyocardial revascularization application for its excimer laser technology through an alliance with Baxter. Phase II trials will begin later this year
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