{"id":6322,"date":"2024-02-25T23:58:57","date_gmt":"2024-02-25T23:58:57","guid":{"rendered":"https:\/\/economicherald.net\/?p=6322"},"modified":"2024-02-25T23:58:57","modified_gmt":"2024-02-25T23:58:57","slug":"regal-cornerstones-14m-cardiex-raise-as-medtech-prepares-to-debut-world-first-vascular-biometric-monitor","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6322","title":{"rendered":"Regal cornerstones $14m CardieX raise as medtech prepares to debut world-first vascular biometric monitor"},"content":{"rendered":"

14 million raise for CardieX consisted of a placement, shareholder entitlement offer, and a funding commitment agreement.
\nPlacement was cornerstoned by Regal Funds Management.
\nC2 Ventures, the investment vehicle of the company\u2019s CEO and chairman, committed a total of $7.5m.<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> CardieX has ruled off on a $14 million funding round as it prepares to launch the world\u2019s first customisable vascular biometric monitor. <\/strong><\/p>\n

The raise will be used to support new product development & sales, marketing and operations, and fund the medtech on a path towards profitability.<\/p>\n

Following the completion of the raise, CardieX (ASX:CDX)<\/a> is now set to recommence trading today.<\/p>\n

The MST Financial-led placement was cornerstoned by Regal Funds Management and backed by family offices, high net worth individuals, and C2 Ventures (C2V), the investment vehicle of CardieX CEO Craig Cooper and chairman Niall Cairns. In total, C2V committed $7.5m to the capital raise.<\/p>\n

Cooper said the company now had a strong financial foundation to execute against its vision and go-to-market strategy:<\/p>\n

\u201cThe capital raise establishes a strong financial platform to capitalise on the opportunity we have to redefine cardiovascular diagnostics and the prevention of vascular disease \u2013 especially with the slate of products we have in the pipeline for launch and our current pre-launch sales traction,\u201d he said.<\/p>\n

CardieX develops and markets non-invasive patient monitoring technologies for assessing vascular health. The company\u2019s suite of products includes medical and home health devices and digital solutions for hypertension, cardiovascular disease and other vascular health disorders all based on the company\u2019s market leading SphygmoCor vascular biomarker technology.<\/p>\n

The upcoming launch of the CONNEQT Pulse, which received FDA clearance in April 2023<\/a>, provides a full suite of hardware and software arterial health solutions for physicians, research, pharma, hospitals, and home health, that is not available from any other arterial pressure monitor. The CONNEQT Pulse joins the company\u2019s other market leading products in vascular health including the \u201cgold standard\u201d SphygmoCor XCEL, and the Oscar 2 ABPM (Ambulatory Blood Pressure Monitor\u00a0 jointly developed with SunTech Medical).<\/p>\n

The CONNEQT Pulse also will enhance CardieX\u2019s offering for its clinical trial solutions. The company\u2019s tech allows pharmaceutical companies to better assess potential vascular outcomes through multiple trial stages, allowing more efficient and cost-effective trial outcomes. The underlying SphygmoCor technology in CONNEQT Pulse has been used in 47 clinical trials to date with global pharmaceutical companies such as GlaxoSmithKline, AstraZeneca, Bayer, and Novartis.<\/p>\n

With the commercial launch of the CONNEQT Pulse, the company will provide a fully decentralised clinical trial (DCT) platform enabling clinical trial managers to monitor thousands of patients at their homes with a SaaS-based tablet solution. Markets and Markets Research estimates the market for DCT to reach $268 billion by 2027.<\/p>\n

Cooper also highlighted the potential of the company\u2019s latest innovation:<\/p>\n

\u201cWith our current suite of products we\u2019ve traditionally sold to specialist clinicians, research, and pharmaceutical companies who used our devices solely in a clinical setting,\u201d he said.<\/p>\n

\u201cWith the CONNEQT Pulse we now have a device that can be deployed at scale in general healthcare practices, in the home, and at a patient\u2019s location when used for a clinical trial \u2013 all at a price point that enables mass adoption and deployment at scale\u201d.<\/p>\n

CardieX last week also announced the appointment of Charlie Taylor as an Australian based independent non-executive director.<\/p>\n

With a distinguished career spanning over 30 years, Taylor brings a wealth of experience in advising both private and public sector healthcare organisations. Prior to joining CardieX, he served as a senior partner at McKinsey, where he led the Health and Public Sector practice. His appointment is effective from March 1.<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with CardieX, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Regal cornerstones $14m CardieX raise as medtech prepares to debut world-first vascular biometric monitor<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

14 million raise for CardieX consisted of a placement, shareholder entitlement offer, and a funding commitment agreement. Placement was cornerstoned by Regal Funds Management. 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