A Medical Device Daily
Vapotherm (Stevensville, Maryland), a company developing high-flow therapy products for the respiratory sector, reported that it has secured $20.5 million in new equity financing.
The company said the financing will support its growth plans including new product development, sales expansion and the launch of Vapotherm's newest acute-care device, Precision Flow, which recently earned 510(k) clearance from FDA.
Vapotherm products are currently used in neonatal, pediatric and adult applications in hundreds of hospital locations throughout the US and in more than 20 countries worldwide.
The financing was led by GE Asset Management, with participation by Cross Creek Capital and Integral Capital Partners. All three are new investors in Vapotherm.
Existing investors QuestMark Partners and Kaiser Permanente Ventures also participated in the round.
"We are very glad to be involved with Vapotherm, not only at this critical milestone with the U.S. launch of Precision Flow, but as the company continues its leadership role in high flow therapy and develops additional respiratory devices for large and unmet clinical needs," said David Stewart, managing director, private equity, at GE Asset Management.
Icon (Dublin, Ireland), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, reported that it has completed its bonus issue of ordinary shares (ADSs).
The bonus issue of one new ADS to the holder of each existing ADS of record on Aug. 8 is the equivalent of a 2-for-1 stock split. The bonus shares were issued to holders of ADSs on Aug. 12. Nasdaq adjusted the trading price of Icon's ADSs to effect the bonus issue prior to the opening of trading on Wednesday.
Icon currently operates from 71 locations in 38 countries and has about 6,500 employees.