New Financing to Meet Important Development in International Demand for MolecuLight’s i:X® and DX™ Level-of-Care Imaging Units for the Wound Care Business
TORONTO, Aug. 11, 2022 /PRNewswire/ – MolecuLight Inc., the chief in point-of-care fluorescence imaging for real-time detection of wounds containing elevated bacterial masses, introduced that it has accomplished a financing with BDC Capital and iGan Ventures. The funds are to help MolecuLight’s continued international growth to satisfy rising buyer demand for its MolecuLight i:X® and DX™ gadgets. Leonard Kofman and Jody Staggs, Managing Director of SWK Holdings will be a part of MolecuLight’s Board of Administrators as observers.
“With the continued progress in international demand for our i:X and DX platforms, we’re completely satisfied to announce this financing from BDC Capital and iGan Ventures, who has been an early investor in MolecuLight,” says Anil Amlani, CEO of MolecuLight Inc. “The proceeds will help the continued progress of our business operations and infrastructure to satisfy market demand”.
“We’ve invested in MolecuLight since inception and are thrilled to see the corporate obtain international business success,” says Sam Ifergan, Founder and President of iGan Companions. “Their clients proceed to generate a wealth of printed knowledge exhibiting the improved outcomes and price financial savings, which is supporting MolecuLight turning into the standard-of-care in wound care globally”.
“BDC is proud to take part within the financing of MolecuLight, a formidable Canadian firm that’s making a world influence by way of enhancing healthcare outcomes,” says Leonard Kofman, Associate with BDC Capital’s Mental Property-Backed Financing follow. “MolecuLight solved an unmet medical want – the necessity to detect bacterial burden in wounds, and has commercialized a set of merchandise that’s positively impacting wound care globally. Demand for the know-how is powerful and rising and we consider the corporate is effectively positioned for continued progress and success”.
The MolecuLight gadgets are bought in North America by way of its direct gross sales and medical purposes workforce and internationally by way of MolecuLight’s 15 specialised distributors in 18 nations.
About MolecuLight Inc.
MolecuLight Inc. is a privately-owned medical imaging firm that has developed and is commercializing its proprietary fluorescent imaging platform know-how in a number of medical markets. MolecuLight’s suite of business gadgets, which embody the MolecuLight i:X® and DX™ fluorescence imaging methods and their equipment, are point-of-care handheld imaging gadgets for the real-time detection and localization of bacterial load in wounds and digital wound measurement. MolecuLight procedures carried out in the US profit from an accessible reimbursement pathway which embody two CPT® codes for doctor work to carry out “fluorescence imaging for bacterial presence, location, and cargo” and facility fee for Hospital Outpatient Department (HOPD) and Ambulatory Surgical Center (ASC) settings by way of an Ambulatory Payment Classification (APC) project. The corporate can be commercializing its distinctive fluorescence imaging platform know-how for different international markets with related unmet wants in meals security, shopper cosmetics and different key industrial markets.
Tungsten Advisors served because the unique monetary advisor to MolecuLight Inc.
About BDC Capital
BDC Capital is the funding arm of BDC, Canada’s financial institution for entrepreneurs. With over $3 billion underneath administration, BDC Capital serves as a strategic associate to the nation’s most progressive companies. It provides a full spectrum of capital, from seed investments to transition capital, supporting Canadian entrepreneurs who want to scale their companies into international champions. Go to bdc.ca/capital.
About iGan Companions:
Based mostly in Toronto, iGan Companions is Canada’s main well being know-how buyers targeted on disrupting the sector by way of breakthrough innovation that dramatically enhance patent are whereas lowering prices. The agency focuses on figuring out at an early-stage, then commercializing and scaling technological developments in AI/Cloud-enhanced medical gadgets and digital well being. iGan gives portfolio corporations with smart-capital, lively help, and entry to a community of trade companions and sector-specific co-investors to assist them develop and succeed.
About Tungsten Advisors:
Tungsten Advisors (www.tungstenadv.com) is an funding banking agency targeted on strategic advisory and company finance for healthcare and know-how corporations. Tungsten gives transactional companies together with financings (non-public placements/PIPEs), company licensing and mergers and acquisitions (M&A). Tungsten additionally focuses on firm incubation and makes direct investments alongside the creation of latest corporations in healthcare and know-how.
Securities supplied by way of Finalis Securities LLC Member FINRA/SIPC. Tungsten Companions LLC d/b/a Tungsten Advisors and Finalis Securities LLC are separate, unaffiliated entities.