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Curetis Plans Equity Offering, Secures Equity Facility

NEW YORK (GenomeWeb) – Curetis said today that it is planning a €4.1 million ($5.0 million) equity offering and that it has secured a $10 million equity facility with a New York-based venture capital firm.

According to Curetis, it has received commitments from qualified investors in the US and Europe to purchase 854,166 newly issued shares at €4.80 each. The equity facility will allow the company to raise up to $10 million in additional equity — solely at its request — from Global Corporate Finance over a 36-month period.

The offering is expected to close on April 30.

Curetis said it will use the funding for, among other things, the US commercial launch of its newly US Food and Drug Administration-approved Unyvero molecular diagnostic platform and multiplex assay to detect lower respiratory tract infections; the continued roll out of the Unyvero system and test cartridges in key markets in Europe, the Middle East, and Asia; and for ongoing R&D initiatives.

"This offering strengthens our shareholder base in both the US and Europe through the addition of several high-caliber healthcare-focused institutional investors," Curetis CEO Oliver Schacht said in a statement. "Also, with the additional … equity facility offered by Global Corporate Finance we have added great flexibility to raise additional equity."

In February, Curetis reported having €16.3 million in cash and cash equivalents at the end of 2017. The firm went public in late 2015.

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