MRI Interventions has received a $10 million strategic investment from PTC Therapeutics and another $7.5 million from Petrichor Healthcare Capital Management.
Under the terms of the transaction, MRI Interventions also has the right to issue up to $15 million of additional secured convertible notes to Petrichor at any time on or prior to January 11, 2022.
The company plans to use the net proceeds to repay in full its existing secured indebtedness and to fund product commercialization, internal research and development, and general corporate requirements.
