Investors OK $18.2 mln offering of PE-backed Spectral Diagnostics
Shareholders of Spectral Diagnostics Inc (TSX: SDI) have approved a previously announced non-brokered private placement of up to $18.2 million. The financing was arranged with certain of the company's existing investors, including Japan's Toray Industries Inc. Other leading investors in Spectral include Canadian private equity firm Birch Hill Equity Partners and Medwell Capital Corp, a Birch Hill portfolio company. The Toronto-based Spectral said it would use funding to support its EUPHRATES clinical development program for PMX, its lead theranostics product for the treatment of severe sepsis with septic shock, and for other business purposes.
23 July 2014•3 mins read
