PET vendor Positron has received the final installment of funds from a $2 million sale of convertible notes to Canadian PET center developer IMAGIN Diagnostic Centres.
Proceeds from the notes were used to build a sales and marketing team, and support past and current working capital needs, according to the Houston-based firm.
The company also announced that it reached an agreement in principle on February 28 with an institutional investor for an additional $1 million in financing. The investment, which is subject to completion and execution of definitive agreements and satisfaction of a number of conditions, will be used to develop a series of new PET and PET/CT scanners and for general corporate purposes, Positron said.
By AuntMinnie.com staff writers
March 22, 2005
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