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Financing led by Petrichor Healthcare Capital Management strengthens company s global position as a leader in precision oncology and the field of Targeted Radionuclide Therapy ITM AG announced today the successful close of a convertible loan financing totaling EUR 90 million (USD 109 million) led by Petrichor Healthcare Capital Management with participation of additional undisclosed investors. The proceeds will support the expansion of ITM s precision oncology pipeline as well as fund late-stage development and market access activities for lead candidate, n.c.a.
177Lu-Edotreotide, currently in a phase III trial in gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Under the terms of the agreement, the loan will convert into shares of ITM in the event of certain future financial or other corporate development transactions. Further details of the financing were not disclosed.
ITM Closes Convertible Loan Financing Totaling EUR90M
ITM, a Munich, Germany-based leader in precision oncology and the field of Targeted Radionuclide Therapy, closed a convertible loan financing totaling €90m (USD 109m).
The round was led by Petrichor Healthcare Capital Management with participation of additional undisclosed investors. Under the terms of the agreement, the loan will convert into shares of ITM in the event of certain future financial or other corporate development transactions. In conjunction with the financing, Tadd Wessel, Founder and Managing Partner at Petrichor, will join ITM’s supervisory board. Further details of the financing were not disclosed.
ClearPoint Neuro, Inc. Announces Funding of Additional $7.5M of Existing Convertible Note on Improved Terms
Represents Draw of Additional Proceeds from Petrichor Announced in January 2020
IRVINE, Calif., Dec. 29, 2020 (GLOBE NEWSWIRE) ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced an amendment to its January 2020 secured convertible note financing agreement with Petrichor Healthcare Capital Management (“Petrichor”) and PTC Therapeutics, Inc. The amendment, closed today, provides for an additional $7.5 million strategic investment from Petrichor and improves terms relative to the original conversion price and interest rate. The Company intends to use net proceeds to continue funding global product commercialization, external strategic portfolio partnerships, and internal research and development efforts.