HTG Molecular Diagnostics Files for IPO of up to $60M
Desert Angels portfolio company, HTG Molecular Diagnostics, has filed a prospectus for an initial public offering of its stock for up to $60 million. The Tucson, Ariz.-based firm has not priced its shares nor said how many shares it plans to offer. It said in its Form S-1 filed with the US Securities and Exchange Commission on Tuesday that it plans to trade its stock on the Nasdaq Global Market under the ticker symbol “HTGM.” Leerink Partners, Canaccord Genuity, and JMP Securities are listed as the offering’s underwriters.
Stimwave Receives FDA Clearance for World’s First Injectable Wireless MicroSize Pain Relief System for Chronic Back and Leg Pain
Desert Angels portfolio company, Stimwave Technologies Incorporated; a medical device manufacturer and independent research institute headquartered in Miami Beach, Fla., has received FDA clearance to market the world’s first wireless, microtechnology neuromodulation device for relief of chronic back and leg pain. Currently being marketed throughout Europe, Stimwave announced it’s revolutionary electroceutical device will be commercially available in the U.S. as of January 2015.
NuvOx Pharma Awarded $1M Grant from National Cancer Institute
Desert Angels portfolio company, NuvOx Pharma; a biotechnology company based in Tucson, Arizona, has received a $1M grant from the National Cancer Institute (NCI) “Nanoparticle-based Sensitizer for Radiation Therapy of Glioblastoma, (NCI Phase II SBIR, R44CA144817 – 02A1).” This grant comes less than a month after NuvOx was highlighted here for beginning Phase Ib clinical trial of its new drug — an oxygen-delivery agent — in patients with glioblastoma multiforme, a rare but particularly deadly form of brain cancer.
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Picmonic receives $1.25 million in financing from local investors
Desert Angels portfolio company, Picmonic; the Tempe-based company which develops audiovisual study cards for medical students, has closed on $1.25 million in financing from local investors. Picmonic CEO and co-founder Ron Robertson said the money will help support the company’s move into the mobile industry and open up new markets in education. This financing, which closed in September, brings the company’s total money raised to $2.6 million.
Tucson Drug Startups in Key Clinical Trials
Desert Angels portfolio companies, Cancer Prevention Pharmacuticals (CPP) & NuvOx Pharma (NuvOx), are in human clinical trials that could result in new drug approvals in the next few years. Both of these local startup companies are founded by University of Arizona research faculty. Local biosciences industry leaders say the companies’ progress in navigating the long and costly drug-approval process is noteworthy, as they progress through trials at the same time.
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HTG Molecular Diagnostics Announces $16 Million Term Loan Agreement With Silicon Valley Bank and Oxford Finance
Desert Angels portfolio company, HTG Molecular Diagnostics, announced that it has closed a growth capital term loan facility with Silicon Valley Bank and Oxford Finance. The loan facility provides HTG with up to $16 million of available proceeds, with $11 million funded at the initial closing this month.
Gaming for good—with celebrities
Fortune Magazine reported that Desert Angels portfolio company, Tiltify, capitalizes on livestreaming and opens up opportunities for celebrities, athletes and gamers to play for good causes.
For more: Gaming for good—with celebrities
Stem cell therapy could lead to HIV cure
Desert Angels portfolio company Calimmune is recognized for being at the forefont of developing a practical cure for people living with HIV infection.
Special note: The article erroneously credits the company as a San Diego based company – Calimmune is a Tucson based company.
For more: Stem cell therapy could lead to HIV cure