Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Inovise Medical: Additional $12.5 in funding announced Feb. 12 brings total equity investment to $22 mil. Proceeds go toward final development, sales and marketing activities for the Cardiovise DEC system, used to diagnose heart disease. Product is expected to be available in the U.S. by year-end. Founded in 1997 by Hewlett Packard executives, the Inovise's proprietary digital electroacoustic cardiography technology combines electrical and sound information to diagnose abnormal heart conditions, including coronary artery disease, heart failure, acute coronary syndrome and left ventricular hypertrophy. New investors MDS Capital Corp. and TAT Capital Partners, Ltd. led the secondary financing round...
You may also be interested in...
Financings In Brief
SonoSite: Handheld digital ultrasound device manufacturer plans secondary offering of 2.7 mil. shares of common stock. Assuming a public offering price of $22.95 per share, estimated net proceeds would be about $57.8 mil., according to a Feb. 22 prospectus filed with the Securities and Exchange Commission. The funds will be used for general corporate purposes, which may include expanded sales and marketing efforts for the SonoSite 180Plus and SonoHeart Elite ultrasound devices, as well as expanded manufacturing, R&D and potential acquisitions, SonoSite says. The Bothell, Washington firm has granted managing underwriters UBS Warburg and Deutsche Banc Alex. Brown the option to purchase an additional 405,000 shares to cover any over allotments, which could boost net proceeds to $66.5 mil., according to SonoSite...
Mustang Bio Enters Race For CAR-T In Autoimmune Disease
The biotech company’s CEO talked to Scrip about plans to bring the CD20-targeting CAR-T MB-106 into an investigator-sponsored Phase I trial later this year.