Global Kinetics Corporation Closes $14.8M Capital Raising
Summary
Funds to underpin manufacture and roll-out of next generation PKG technologyAustralian health technology company Global Kinetics Corporation has successfully raised $14.8M to rapidly progress the companys global commercialisation strategy for its lead Parkinsons KinetiGraph (PKG) mobile health technology.Foundation investor Brandon Capital Partners has contributed further capital in the funding round. New investors include institutional investment funds, industry veterans, high net worth individuals and also the Israeli based OurCrowd crowdfunding platform, a virtual investor network that provides accredited investors the opportunity to invest in global technology companies.GKC Managing Director Mr Andrew Maxwell said funds from this latest capital raising would be used to drive the companys international growth, with a particular focus on the high value North America market following recent FDA clearance and the appointment of key US executive staff.In addition, this funding will underpin the manufacturing and launch of next generation PKG technology, to be unveiled at the International Movement Disorder Society meeting in San Diego in June this year.Mr Maxwell commented: "Capital raising for emerging technology companies is never easy. On this occasion investor demand exceeded available equity which is testament to our product portfolio and the substantial commercial opportunity it presents. ""Investors recognise we have a world class technology, we have a product on the market, regulatory approvals in place and we are delivering on our vision to make measurable change to Parkinsons disease globally. Other non-movement symptoms may be experienced such as speech and swallowing difficulties, cognitive impairment or behavioural change and sleep disturbance.