Computer-aided detection (CAD) firm iCAD said it has secured $15 million in financing.
The firm has entered into a five-year, $15 million debt facility with Deerfield Management, a healthcare investment fund. Under the terms of the agreement, iCAD will issue a $15 million senior secured note and will issue warrants to purchase 2.2 million shares of iCAD common stock. If the agreement is extended, Deerfield Management will purchase an additional 500,000 shares of iCAD common stock.
