Optical molecular imaging developer ART Advanced Research Technologies reported that it has raised $5 million (U.S.) through a private placement with a limited number of U.S. institutional investors.
The Montreal-based firm said this latest financing brings the total amount of capital recently raised by ART to $10.9 million. The company intends to use the net proceeds of the most recent private placement for the clinical development and trials of its breast cancer imaging device, SoftScan, with the balance to be used for enhancements and product extensions to its molecular imaging device, eXplore Optix.
By AuntMinnie.com staff writers
July 29, 2005
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