Monmouth Junction, N.J.-based Cytosorbents Corp., a critical care immunotherapy company commercializing its Cytosorb blood purification technology to treat cytokine storm and deadly inflammation in critically ill and cardiac surgery patients, has commenced a $40 million underwritten public offering of its common stock. The company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in connection with the offering. Cytosorbents intends to use the net proceeds from this offering for general corporate purposes, including an expansion of its manufacturing, R&D and administrative offices, to fund clinical studies in the U.S. and abroad, support its sales and marketing efforts and further develop its products. Cowen and SVB Leerink are acting as joint book-running managers of the proposed offering.

Melbourne, Australia-based Genetic Technologies Ltd. a developer of genetic risk assessment tests, reported the closing of its previously announced registered direct offering of 1,025,000 American depositary shares (ADS), each representing 600 of the company's ordinary shares, at a purchase price of $5 per ADS for gross proceeds of about $5.1 million. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The company plans to use the net proceeds from this offering to support the introduction and distribution of its new products in the U.S., for general product research and development and reimbursement studies for polygenic risk tests with Tgen in the U.S., for implementation of its consumer initiated testing platforms and preparation for its COVID-19 Severity Risk Test as well as for working capital and potential acquisitions.

Histogen Inc., a San Diego-based regenerative medicine company with a biological platform that replaces and regenerates tissues in the body, entered a common stock purchase agreement for up to $10 million with Lincoln Park Capital Fund LLC. Upon execution of the purchase agreement, Lincoln Park made an initial purchase of $1 million of common stock. Under the terms of the purchase agreement, the company will have the right to sell shares of its common stock to Lincoln Park over the 24-month term of the purchase agreement. Any common stock sold to Lincoln Park will occur at a purchase price that is based on the prevailing prices of the common stock at the time of each sale. The company plans to use any proceeds for working capital and general corporate purposes.

San Diego-based Procisedx Inc. has raised $10.5 million through $8.5 million of equity and $2 million of debt, to fund ongoing development and commercialization of its point-of-care diagnostic platform. The investment round was led by Biosynex SA, a French diagnostics company, and included management and private investors. Biosynex will now own 37% and will join the board. Nestlé Health Science, which previously owned 100% of Procisedx, remains an active supporter and significant minority shareholder. Coview Capital Inc. and, their life science consultants, The Channel Group, acted as advisors to Procisedx, which is an in vitro diagnostics company developing a portfolio of rapid diagnostic tests for the physician's office. The investment from Biosynex reinforces a relationship established in May 2020, when Biosynex became the distribution partner for Procisedx gastrointestinal diagnostics in France. Procisedx will serve as the U.S. FDA agent and U.S. distributor for the Biosynex COVID-19 BSS Antibody test for which an emergency use authorization file has been submitted. It was also reported that Magda Marquet will serve as Procisedx board chair.

Toronto-based Profound Medical Corp. has closed its previously reported underwritten offering of common shares of the company at a price of US$14.50 per common share. The underwriters elected to exercise the over-allotment option in full, resulting in an aggregate of 3,172,414 common shares being issued today for aggregate gross proceeds of approximately US$46 million. Jefferies, Cowen and Raymond James acted as joint book-running managers for the offering. The net proceeds of the offering are expected to be used to fund the commercial launch of Tulsa-Pro in the U.S. and the continued development and commercialization of Tulsa-Pro and Sonalleve globally. Profound develops customizable, incision-free therapies for the ablation of diseased tissue.