A Medical Device Daily
Immunicon (Huntingdon Valley, Pennsylvania) last week reported filing a universal shelf registration statement with he Securities and Exchange Commission, intended to permit the sale by Immunicon of up to $75 million of its common stock, preferred stock, debt securities, warrants, depositary shares, stock purchase contracts and stock purchase units.
The company said it has no current plans to offer the securities covered by the registration statement, with the terms of any offering to be established at the time of the offering.
Immunicon is developing cell- and molecular-based diagnostic and life science research products with a focus on cancer management. It says it has developed platform technologies for selection and analysis of rare cells in blood, such as circulating tumor cells and circulating endothelial cells that are important in many diseases and biological processes. Immunicon’s products and underlying technology platforms also have application in the clinical development of cancer drugs and in cancer research and may have applications in other fields of medicine, such as cardiovascular and infectious diseases.
Vermillion (Fremont, California), formerly known as Ciphergen Biosystems, reported that it has entered into securities purchase agreements in connection with a placement with a group of existing and new investors.
Vermillion will receive about $20.5 million in proceeds from the sale of about 24.4 million shares of its common stock and the issuance of warrants for the purchase of about 19.5 million additional shares of Vermillion’s common stock with a price of $0.925 a share.
Vermillion said that the transaction is expected to close on or about Aug. 29.
The company said the net proceeds from the transaction will be used for general working capital needs.
The company changed its name to Vermillion early last week and expects to begin trading today under a new NASDAQ stock symbol, VRML.
Vermillion develops diagnostic tests, with ongoing diagnostic programs in oncology/hematology, cardiology and women’s health with an initial focus in ovarian cancer.
In other financing activity: Implantable Provider Group (IPG; Alpharetta, Georgia) reported securing private funding of $8 million to help the company expand its business.
IPG offers solutions for healthcare providers, payors and manufacturers, it says, “to alleviate the financial risk and management issues associated with implantable medical devices.”
Through its Implantable Device Management program, IPG says it reduces the financial exposure that the purchase of high-cost implantable devices can bring to hospitals, ambulatory surgical centers and physicians’ offices.
Fulcrum Ventures led the investment with preferred equity and sub-debt and also arranged a senior debt facility with Gemino Healthcare Finance.