San Antonio-based Bioaffinity Technologies, a privately held biotech company, said it has closed a nonbrokered, secured convertible note financing for proceeds of $5 million. The proceeds from the are funding operations to advance the company’s noninvasive Cypath Lung cancer test and therapeutic R&D of novel drug candidates for the selective treatment of multiple cancers.
Nano-X Imaging Ltd., a Neve Ilan, Israel-based medical imaging technology company, said that it has secured more than $100 million in crossover equity investments from global investors since December 2019. Funds raised are planned to primarily support the rollout of the Nanox.Arc deployments worldwide.
Nemaura Medical Inc., a Loughborough, U.K.-based medical technology company focused on developing micro-systems-based wearable diagnostic devices and currently commercializing Sugarbeat, its noninvasive and flexible continuous glucose monitor, reported the pricing of a "best efforts" public offering of an aggregate of up to 1,586,206 shares of its common stock and warrants to purchase up to an aggregate of 793,103 shares of its common stock. Each share of common stock and accompanying one-half of a warrant is being sold for a combined purchase price of $7.25, for a gross deal size of $11.5 million, not including any future proceeds from the exercise of the warrants and before deducting the placement agent fees and offering expenses. The offering is expected to close on or about July 30, subject to satisfaction of customary closing conditions. It also reported that the press release issued July 27 regarding a proposed public offering was issued in error because the offering has taken the form of a "best efforts" and not an "underwritten" public offering. Each whole warrant will have an exercise price of $8 per share and is exercisable immediately. The warrants will expire five years from the date of issuance. The shares of common stock and warrants can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance.
Sequana Medical NV, a Zwijnaarde, Belgium-based innovator in the management of fluid overload in liver disease, malignant ascites and heart failure, secured a €7.3 million (US$8.6 million) debt financing through subordinated loan agreements, of which €1.4 million will be convertible for new shares of the company. The funding extends the cash runway into the second half of 2021 and enables the company to reach key clinical milestones in its North American liver and global heart failure programs.