London-based Advanced Oncotherapy plc, the developer of next-generation proton therapy systems for cancer treatment, reported an equity fundraise of £14.89 million (US$18.55 million) before expenses, from new and existing investors through the issue of 59.55 million new ordinary shares at a price of 25 pence per share through a direct subscription with the company. The funds raised from the subscription will contribute to the funding for progressing the assembly, documentation, verification and validation activities in order to obtain regulatory approval of Advanced Oncotherapy's first Light system. In addition, a total of 780,100 new ordinary shares will be issued as non-cash consideration at the issue price in lieu of fees due to a number of counterparties including certain financial advisers.
Milestone Scientific Inc., of Roseland, N.J., a developer of computerized drug delivery instruments that provide painless and precise injections, reported it intends to offer for sale a combination of shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The company plans to use the net proceeds from this offering for manufacturing, marketing, sales and distribution of its Compluflo epidural system and development of new products and new product uses, working capital and general corporate purposes. Maxim Group LLC is acting as sole book-running manager for the offering.