Nanovi raises new capital
27 August 2019
DK-Copenhagen, August 20, 2019
Nanovi A/S (Nanovi), a Danish company specialized in the development of liquid fiducial markers to enable high-precision radiation therapy and cancer surgery, has successfully closed a funding round and raised DKK 19 million in new equity capital. Existing shareholders in the company, including highly seasoned investors with many years of experience from the MedTech industry, have subscribed the new capital.
In connection with the new capital round, Nanovi’s largest shareholder, Vækstfonden (the Danish Growth Fund) has also opted to convert a convertible loan of DKK 6.25 million into new equity in the company. The conversion of debt to equity in combination with the subscription of new equity capital has significantly strengthened Nanovi’s balance sheet.
With the proceeds from the new capital round, Nanovi is well funded to both bridge the final step until commercialization of BioXmark®, a liquid fiducial marker to enable high-precision radiation therapy and its lead product for human use. BioXmark® is expected to be CE marked later in 2019 with a broad indication for use to guide radiotherapy across many types of soft tissue cancers.
In 2018, Nanovi commercialized PetXmark™, a liquid fiducial marker for veterinary use to radiographically mark subcutaneous cancers.
Jesper Boysen, CEO of Nanovi commented: “We are very happy for the strong commitment and trust shown by our shareholders in this financing round. It is a crucial time for Nanovi, as we expect BioXmark® to be CE-marked later this year with a broad indication for use to guide radiation therapy of soft tissue cancers. We chose last year to aim for a broad use indication as it will open a substantially larger market for our product. Over the past year, we have attracted additional core competences to our team and focused to up-qualify and validate our operations to be ready for commercialization.”
Jesper Boysen, CEO
Phone: +45 24 65 60 33
Nanovi A/S is a Danish medical device company specialized in the development and commercialization of innovative liquid fiducial markers. Our corporate commitment is to provide tools to enable high-precision cancer treatments for better outcomes and higher quality of life for patients and to make healthcare more cost-efficient on a global scale.
We have a portfolio of liquid fiducial markers on the market and in development for both human and veterinary use. Our lead product for human use, BioXmark® is a liquid fiducial marker for use to enable high precision in image-guided radiation therapy of patients with soft tissue cancers. BioXmark is in regulatory phase in Europe, expected to be CE marked later in 2019.
Nanovi is building on a patented technology platform for innovative design of biomaterials, co-invented with the Technical University of Denmark, DTU. The corporate offices are situated at the DTU Science Park in Kgs. Lyngby, north of Copenhagen, For more information, please visit: www.nanovi.com