Acarix - Rights funding completed
Acarix has competed a rights issue of 28.67m shares at SEK1.50/share to raise SEK43m before expenses. The proceeds will fund a programme of market development and clinical trials. The process for German public reimbursement is underway. In the UK, NICE has carried out a technical assessment enabling a dialogue to start. Acarix is now developing a US market entry strategy and assessing the likely FDA trial needs.Acarix AB is a Sweden-based provider of diagnostic solutions for coronary artery disease (CAD). The Company's primary product CADScor System features phonocardiography technique and algorithms. The CADScor System is fixed with a specific patch to the chest of the patient, with the recording head placed at the forth left intercostal space, and the sensor resting on the sternum. Instructions for the procedure are given on the display for the operator and audio cues guide a patient during the two-minute heart sound recording. After recording, the CAD-score is calculated, and presented on the display of the CADScor Sensor, enabling a physicians, nurses and laboratory technicians to make a rule-out diagnosis.
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