Auckland, New Zealand-based biotechnology company Pictor is embarking on a NZ$2.5 million (US$1.7 million) fundraising round to help boost its diagnostics R&D in COVID-19, Mycoplasma bovis and other pipeline products. It hopes to take these products to international markets in 2021.
Carlsbad, Calif.-based Ra Medical Systems Inc., which is focused on an advanced excimer laser-based platform for use in the treatment of vascular and dermatological immune-mediated inflammatory diseases, priced a public offering of an aggregate of 34,285,714 shares of common stock (or common stock equivalents), together with accompanying warrants to purchase up to an aggregate of 34,285,714 shares of common stock, at a public offering price of $0.35 per share and accompanying warrant. The gross proceeds are expected to be about $12 million, prior to deducting placement agent’s fees and other estimated offering expenses payable by Ra Medical and assuming none of the warrants issued in the offering are exercised for cash. The offering is expected to close on or about Aug. 3, subject to the satisfaction of customary closing conditions. Ra Medical intends to use the net proceeds for general corporate purposes, including working capital, its atherectomy indication trial and engineering efforts.