A Medical Device Daily

Uroplasty (Minnetonka, Minnesota), a manufacturer of products for the treatment of voiding dysfunctions, said it has closed its previously reported follow-on offering of 2.4 million shares of its common stock at $2 a share. Pricing of the follow-on offering was reported last month (Medical Device Daily, Dec. 22, 2006).

The company said it expects to use the total proceeds of about $4.4 million, after underwriting commissions and estimated offering expenses, to fund operations and for working capital purposes.

In other financing activity:

• Xenomics (New York), a developer of DNA technologies, reported the closing of a private placement of $1 million, the proceeds, it said, to fund development of new diagnostic tests for a range of diseases and genetic conditions, and for preparations toward regulatory approvals and commercialization.

The company said it placed 1 million shares of common stock and 500,000 warrants to an overseas institutional investor. The warrants are immediately exercisable for a period of six months from the date of issuance at $1.25 per share.

Xenomics is developing DNA-based tests using transrenal DNA technology that uses simple urine collection and can be applied, it said, to range of applications, including detection and monitoring of infectious diseases, tumor detection and therapeutic monitoring, stem cell transplantation monitoring and prenatal genetic testing.

The company's issued U.S. patents cover various applications for molecular diagnostics and genetic testing.

• Certified Diabetic Services (CDS; Naples, Florida), a direct-to-consumer mail-order distributor of diabetic supplies and pharmaceuticals, reported closing a $2 million private placement debt financing to be used to repay outstanding bank debt and provide working capital to fund operations.

The debt is structured as a $1 million senior secured one-year term note and up to $1 million revolving line of credit. The investor received both common stock and warrants in the deal.

CDS says it serves more than 12,000 member patients with Medicare, Medicaid and managed care private insurance, who require diabetic supplies, pharmaceuticals and doctor-ordered diabetic education.