Reva Medical (ASX:RVA) said yesterday that it’s planning a $40 million convertible note offering with several institutional and 1 undisclosed corporate investor to fund the company’s ongoing needs, including the clinical development of its Fantom sirolimus-eluting bioresorbable coronary scaffold. Upon issuance of the convertible notes, the company is slated to receive $32.5 in net cash […]
Funding Roundup
DelMar closes $9m public offering
DelMar Pharmaceuticals (NSDQ:DMPI) closed its $9 million public offering today. Earlier this week, the company priced 2.8 million shares and warrants to purchase an aggregate of 2.1 million shares of common stock at $3.25 apiece. The offering’s warrants have an exercise price of $3.50 per share and have an term of exercise of 5 years, according to […]
SteadyMed raises $30m for Trevyent commercial launch
Shares in SteadyMed (NSDQ:STDY) rose 6% today after the company said it inked a $30 million private placement with Adage Capital Management, OrbiMed, Deerfield Management and Kingon Capital Management. The San Ramon, Calif.-based company plans to use its newly-acquired funds to prepare for the commercial launch of its pulmonary arterial hypertension treatment, Trevyent. The therapy is […]
MeMed wins $9.2m DoD deal for diagnostic device
MeMed said today that it won a $9.2 million contract from the Defense Threat Reduction Agency, a branch of the U.S. Dept. of Defense, for its diagnostic platform that distinguishes bacterial infections from viral infections. The Israel-based company has developed a test to recognize the distinct human immune signatures of both bacterial and viral infections […]
GE funds startups to make overdose reversal devices more accessible
General Electric (NYSE:GE) is reportedly funding 2 of the startups that launched out of its opioid hack-a-thon last year, even though only 1 of the companies won. The company is backing GEM Boxes, the competition’s winner, and We Are Allies with more than $20,000 worth of funding to help curb the opioid epidemic that kills 91 […]
DelMar Pharmaceuticals prices $9m public offering
DelMar Pharmaceuticals (NSDQ:DMPI) announced pricing details of a $9 million public offering last week. The company priced 2.8 million shares and warrants to purchase an aggregate of 2.1 million shares of common stock at $3.25 apiece. The offering’s warrants have an exercise price of $3.50 per share and have an term of exercise of 5 years, […]
Lyndra raises $23m for long-acting drug delivery tech
Lyndra, Inc. said today that it closed a $23m Series A round, led by Polaris Partners, to fund the development of its long-acting therapeutic oral delivery platform. Quark Venture, GF Securities, Yonghua Capital, Healthlink Capital, Partners Healthcare, Suffolk Equity and others invested in the round. The Watertown, Mass.-based company touts its tech as the 1st […]
Cytori prices $9.5m public offering
Cytori Therapeutics (NSDQ:CYTX) said today that it priced an underwritten public offering of 8.6 million shares of common stock at $1.10 apiece. The company plans to bring in $9.5 million. Cytori granted a 45-day underwriter’s option to purchase up to 15% of additional shares of common stock. The offering is expected to close on April […]
Canadian government, JDRF ink $30m partnership to support diabetes research
Canada’s Minister of Health, Jane Philpott, said today that the Canadian Institutes of Health Research inked a $30 million partnership with the Juvenile Diabetes Research Foundation to support clinical research for Type I diabetes. Both groups have agreed to invest $15 million to the deal. “The government of Canada recognizes the impact that Type I diabetes […]
Sentien raises $12m Series A for drug-device combo for acute kidney injury
Sentien Biotechnologies said today that it closed a $12 million Series A financing round, co-led by Boehringer-Ingelheim Venture Fund USA, Inc. and BioInnovation Capital. Chiesi Ventures, MBL Venture Capital Co. and Mass Medical Angels also contributed to the round. The Cambridge, Mass.-based company said it plans to use the funds for initial clinical development of […]
