Alliqua (Langhorne, Pennsylvania), a provider of advanced wound care products, said it has raised $20.3 million in a series of transactions that included a $15 million private placement of common stock and warrants and $5.3 million from the exercise of warrants from several institutional shareholders.
In connection with the private placement, Alliqua issued 2,139,287 shares of common stock at a price of $7 per share and warrants to purchase 427,857 shares of the company's common stock at an exercise price of $10.50 per share.
In a separate transaction, Alliqua received about $5.3 million from the exercise of warrants to purchase 930,313 shares of common stock at an exercise price of $5.69 per share. These warrants were issued back in November and had a five-year term.
Alliqua said that it intends to use the proceeds from the transactions for working capital purposes, as well as expansion of its suite of technological solutions through acquisitions.
In other financings activity:
• Eventus Diagnostics (Miami) reported completion of a $2.72 million financing. The financing was led by a new family office private investor, and existing investors also participated. Proceeds of the financing will mostly be used to support the continued commercialization of the company's Octava breast cancer tests.
The Octava tests are immune system-based blood tests that detect the presence or absence of cancer by measuring ratios of autoantibodies produced in response to the presence of tumor-specific antigens. The Octava Pink and Octava Blue tests are designed to be used in conjunction with annual screening mammograms. The tests provide additional information that enable women and their physicians to better assess the validity of their mammography results.
The Octava tests are CE marked and were recently approved for marketing in Israel by the Ministry of Health. Pilot distribution programs for the Octava Pink test are underway in Italy and Turkey and are being established in a number of other EU territories. A full commercial launch of Octava Pink has begun in Israel.
• Kalila Medical (Campbell, California), a privately held company focused on the development of next generation steerable catheter technologies, reported that Mérieux Développement joined its existing investors in the company's recent financing. Kalila is in the final stages of development of the Vado Steerable Sheath, a steerable sheath for electrophysiology procedures.
"This is an important milestone for Kalila, as we previously funded the company solely through small investors. Having an investor like Mérieux on the team as we prepare for initial commercialization is important for our success," said Mike Dineen, president/CEO of Kalila. "This financing will bridge the company through our initial clinical experience with Vado."