- Private placement to institutional and sophisticated investors
- Includes substantial crowd funded equity investment
- Funds to underpin manufacture and roll-out of next generation PKG™ technology
Melbourne, Australia 02 June 2015: Australian health technology company Global Kinetics Corporation has successfully raised $14.8 million to rapidly progress the company’s global commercialisation strategy for its lead Parkinson’s KinetiGraph™ (PKG™) mobile health technology.
Foundation investor Brandon Capital Partners has contributed further capital in the funding round. New investors include institutional investment funds, industry veterans, high net worth individuals and also the Israeli based OurCrowd crowdfunding platform, a virtual investor network that provides accredited investors the opportunity to invest in global technology companies.
GKC Managing Director Mr Andrew Maxwell said funds from this latest capital raising would be used to drive the company’s international growth, with a particular focus on the high value North America market following recent FDA clearance and the appointment of key US executive staff.
In addition, this funding will underpin the manufacturing and launch of next generation PKG™ technology, to be unveiled at the International Movement Disorder Society meeting in San Diego in June this year.
Mr Maxwell commented: “Capital raising for emerging technology companies is never easy. On this occasion investor demand exceeded available equity which is testament to our product portfolio and the substantial commercial opportunity it presents.”
“Investors recognise we have a world class technology, we have a product on the market, regulatory approvals in place and we are delivering on our vision to make measurable change to Parkinson’s disease globally.”
“In addition, we have a high calibre executive team in place to execute an ambitious global growth strategy. We look forward to updating investors of continued progress.”
GKC’s lead product is the Parkinson’s Kinetigraph™ (PKG™), a first in class medical technology that provides decision support information to neurologists to assist them to manage the key disabling movement symptoms of Parkinson’s – providing better quality of life for People with Parkinson’s at a reduced cost to the healthcare system.
The product has achieved FDA clearance, CE Mark and TGA registration and is now available to more than 50,000 people living with Parkinson’s disease across the USA, Europe and the Asia-Pacific via specialty movement disorder clinics. For more information on the Parkinson’s KinetiGraph™ please go to www.globalkineticscorporation.com.au
About Global Kinetics Corporation
Global Kinetics Corporation (GKC) is a privately held technology company headquartered in Australia focused on globally commercialising its innovative movement disorder assessment technology, specifically for the assessment of Parkinson’s disease symptoms.
The PKG™ system includes a wrist worn device that automatically records motion data. This data is downloaded within minutes, analysed and presented as a medical report that assists doctors to assess and manage movement disorder symptoms.
Parkinson’s disease is a progressive disorder of the brain’s frontal lobe, which controls impulsive and non-impulsive movement. An estimated 6 million people around the world are affected. The main motor (or movement) related symptoms of Parkinson’s disease are bradykinesia, rigidity, tremors, postural instability and over time people with Parkinson’s may experience dyskinesias or relentless uncontrolled movements. Other non-movement symptoms may be experienced such as speech and swallowing difficulties, cognitive impairment or behavioural change and sleep disturbance.
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