This article was originally published in The Gray Sheet
Equity capital of $5.1 mil is raised via private placement, "primarily with a group of institutional investors," the firm reports. The financing included about 1.45 mil. unregistered common shares and 291,428 warrants. The Bedford, Massachusetts company will use a portion of the proceeds to further promote clinical adoption of its CH 2000 T-wave alternans test, cleared by FDA via 510(k) in April as the first non-invasive test to identify patients at risk of arrhythmia (1"The Gray Sheet" April 19, p. 11). Funds are also earmarked for additional clinical studies, pursuit of third-party reimbursement and "other operational needs"
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