Nashua, N.H.-based Icad Inc. entered definitive agreements with several institutional investors for the purchase and sale of 1,562,500 shares of common stock at $8 per share, pursuant to a registered direct offering. The gross proceeds of the offering will be about $12.5 million before deducting estimated offering expenses. It intends to use the net proceeds for working capital and for other general corporate purposes, including for the conduct of postmarket studies for the Xoft intra-operative radiation therapy for glioblastoma and other brain cancers. The closing of the registered direct offering is expected to take place on or about April 27, subject to the satisfaction of customary closing conditions.
Noscendo GmbH, a Duisburg, Germany-based diagnostics company dedicated to the identification and assessment of bloodstream-associated pathogens and other infections, reported the commencement of operations in its own development and application laboratory as well as the closing of a financing round. Investors included Earlybird, Paua Ventures and the JIH Family Office, while existing investors, such as Wieland Capital and High-Tech Gründerfonds, continued to invest. The funds will be used for further business expansion with a focus on complementing the current management team.
Paige, of New York, received additional funding from Goldman Sachs Merchant Banking Division, which will be added to the recently unveiled series B financing round. Paige will use this new capital to develop the company’s diagnostic and test products for the biopharma industry, while strengthening its leadership position in clinical artificial intelligence for pathologists and development of the Paige platform for remote viewing and routine clinical practice. Additionally, Paige has added David Castelblanco, managing director at Goldman Sachs, to its board.
R2 Technologies Inc., of San Ramon, Calif., received $10 million in funding from Huadong Medicine Company Ltd. on the latter’s $30 million series B equity investment in R2. This investment represents the second tranche of Huadong's investment at an approximate post-money valuation of $90 million. These funds will be used to commercialize R2's Cryoaesthetic technology.