The Israel-based C-Scan system is designed as a substitute for standard colon most cancers screening strategies. The system makes use of an ultra-low dose ingestible x-ray capsule and a wi-fi monitoring system to offer structural details about the colon gentle to create 2D and 3D maps.
In reference to this providing, Verify-Cap reported that it bought roughly 2.9 million models consisting of 1 widespread share and one warrant to amass one-half of 1 widespread share at 2.58. $ the unit. The Warrants of the Providing have a time period of 5 years and are exercisable instantly at an train price of $ 2.58 per share.
The funds raised by the provide can be used to help the continued improvement of its C-Scan system and for common functions, stated Verify-Cap. The closing of the provide is scheduled for February sixth.
H.C. Wainwright & Co act as unique funding brokers within the providing, the corporate m stated in a press launch.
In December, Verify-Cape stated that it received the conditional approval of the FDA for its experimental machine exemption utility for the launch of a pilot examine of its C-Scan system.