LightIntegra Technology completes $3.5M private financing – update

Photo of author

By Ted Liu

LightIntegra Technology Inc. has completed a new round of private financing, raising $3.5 million from its existing shareholders. The financing is structured [mepr-active rule=”374″ ifallowed=”hide”]##Subscribe today to see our research on this and all other subscriber ONLY items##[/mepr-active][mepr-active rule=”374″] as a placement of 16% unsecured promissory note due 2021. 24 BC and 1 US existing shareholders participated in the financing. [/mepr-active]
Fasken Martineau DuMoulin LLP acts as legal counsel to LightIntegra.

The financing is in addition to a previous financing round closed in coincidence with the appointment of Bill Dubiel as its new President and CEO.

“This funding will help LightIntegra advance its commercialization efforts in the USA, and serves as a positive indication of the company’s shareholder support,” said Dubiel. “The financing allows our company to generate working capital while maintaining its existing ownership structure.”

Vancouver based LightIntegra is a medical devices company that provides diagnostics that aim to reduce blood transfusions in cancer patients and minimize platelet refractoriness. The device, called ThromboLUX, identifies non-activated platelet products which are deemed optimal for this patient type. The company launched commercial sales to the US market in April 2017.

photo credit: LightIntegra Technology Inc.