Imagin Medical (CSE: IME) (OTCQB: IMEXF), a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures, has announced that Rapha Capital BioVentures Fund I, LP (“RCBVFI”) led and closed on a new convertible note offering totaling $3 million. The note, which was funded in three tranches, will support the clinical development of Imagin Medical’s flagship product: the i/Blue(TM) Imaging System. In addition, RCBVFI manager and leading urooncologist Dr. Kevin Slawin, MD, was appointed to Imagin’s board of directors, and Imagin also announced an updated website that features the company’s new logo and reflects the company’s change in energy, focus and direction. In addition to the closing of the note, the announcement noted that Rapha Capital can appoint a second board member upon closing of at least $1 million. Rapha Capital will also receive warrants to acquire shares of Imagin and will be granted a preemptive right to participate in any future financing started by Imagin. “As a urologist who cared for patients with cancer over a 25-year career as a professor and urological oncologic surgeon, I have a deep knowledge of the field and of the needs of patients with prostate and bladder cancer,” said RCBVFI manager and Imagin Medical’s newest board member Dr. Kevin Slawin in the press release. “Taking the lead investor role in Imagin signifies my appreciation of Imagin’s advanced i/Blue Imaging Systemand the potential it may bring to the improvement in the care of these patients. Our investment will enable us to bring this lead product through the FDA submission process over the next year.”
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About Imagin Medical
Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The company believes its first product, the i/Blue Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The company’s initial focus is bladder cancer. For more information about the company, visit www.ImaginMedical.com.
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