Lausanne, Switzerland-based Aleva Neurotherapeutics SA, a developer the Directstim deep brain stimulation system for Parkinson’s disease and essential tremor, raised $8 million in a first closing of a series E financing round from existing and undisclosed new private investors. A limited additional amount of the round remains open to qualified investors.
Denver-based Assure Holdings Corp. closed the first tranche of its previously reported non-brokered private placement offering of up to CA$4 million (US$3.04 million), pursuant to which the company issued approximately 1,206 unsecured redeemable convertible debentures, each with a principal amount of CA$1,000 and approximately 261,790 share purchase warrants for aggregate gross proceeds of approximately CA$1,206,000. The net proceeds of the offering will be used for working capital and growth capital purposes. The company has reserved an option at its sole discretion to increase the size of the offering by CA$2 million to an aggregate of CA$6 million. Assure is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries.
Awak Technologies, of Singapore, a company focused on dialysis using regeneration technology for end-stage kidney disease, has raised $40 million of new funds in an oversubscribed financing round to ready its wearable and ultra-portable Awak Peritoneal Dialysis (AWAK PD) device for late-stage clinical studies and accelerate its commercialization plans. The investment round was co-led by new investors Vickers Venture Partners. Shares were also subscribed by other new investors and existing investors including Advanced Medtech and Enterprise Singapore’s investment arm Seeds Capital. The proceeds raised bring the total sum raised by Awak since inception to more than $60 million.
Paris-based Mauna Kea Technologies SA, inventor of the Cellvizio multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, reported a strategic equity investment of €7.5 million (US$8.36 million) by Johnson & Johnson Innovation – JJDC Inc. (JJDC). Pursuant to the agreement, JJDC, the strategic venture capital arm of Johnson & Johnson, will subscribe to 5,357,142 new ordinary MKEA shares for €1.40 per share. After the transaction, JJDC will own approximately 17.5% of the total ordinary shares. Mauna Kea has granted, for 24 months, to JJDC and its affiliates, a right of first refusal with respect to a transaction on its pCLE (probe CLE) or nCLE (needle CLE) variants for use in endoluminal robotic procedures for lung applications and to the application of machine learning and artificial intelligence for lung applications. It also granted, for 24 months, to JJDC and its affiliates, a right of first negotiation with respect to a transaction on its pCLE (probe CLE) or nCLE (needle CLE) variants for use in endoluminal robotic procedures for GI and urology applications. In connection with this transaction, Piper Jaffray is acting as strategic adviser and McDermott Will & Emery is acting as legal adviser to Mauna Kea. The company said it will use the net proceeds to meet the financing needs of the current business in order to further develop the Cellvizio platform, pursue clinical studies and intensify sales and marketing efforts in the U.S.