Therapy Areas: Diabetes
AgaMatrix and WaveForm Technologies conclude USD56m financing agreement
4 July 2019 -

AgaMatrix Inc and WaveForm Technologies Inc, wholly owned subsidiaries of AgaMatrix Holdings LLC, reported on Wednesday that the company has completed a capital raise of USD56m.

This included over USD6m in financing from existing and new investors and USD50m in senior financing from Perceptive Advisors.

Proceeds from the capital raise will be used by AgaMatrix Inc for repayment of debt and to support increased production capacity, product development and additional clinical trial initiatives for the commercialisation of WaveForm's Continuous Glucose Monitor (CGM) in Europe and FDA clearance in the USA.

Covington Associates LLC served as financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP served as legal counsel.

AgaMatrix provides diagnostic technologies for diabetes care, including blood glucose monitoring devices and related firmware, software and data storage solutions. WaveForm Technologies discovers and develops novel and proprietary new technologies for diabetes care.