Sydney, Australia: 8th June 2016: Uscom (ASX code: UCM) (the Company or Uscom), a revenue stage, cardiovascular and pulmonary health technology company, today announced to market the completion of a Private Placement (PP) which raised in excess of $2.2m from the sale of 11,072,125 FPO UCM shares at a price of $0.20.
The $2m oversubscribed offer was to accommodate strategic international investment and grow the corporate register, and was priced at a discount to the monthly volume weighted average market price of $0.224.
The funds will be used to complete the Thor Laboratories acquisition, and prepare and file for updating of current registration and regulatory approvals in China, Europe and the USA, and launch the Uscom BP+, the Uscom BP+ Reporter, the Uscom SpiroSonic series of devices and the Uscom SpiroReporter. The funds will also be used to support Uscom’s transition to volume manufacturing to meet the anticipated demand for devices as new distributors are appointed.
Uscom CEO Associate Professor Rob Phillips said, “This raising continues to optimise our revenue opportunities going forward, and is vital to ensure our continued commercial momentum, and meet the anticipated demand for our new devices. Managing growth in multiple jurisdictions with multiple products coming to market in a short time is challenging and this raising will allow us to prepare our products for market and manufacture devices for sale. This PP has also allowed us to introduce new Australian and international strategic partners to the register.”
Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases, including hypertension, heart failure, asthma, COPD and sleep disorders. The products are integral for optimising management of sepsis, guidance of fluid, inotropes and vasoactive therapies in critical care monitoring, and in clinical and home care delivered asthma and COPD medications.
About Uscom
Uscom Limited (UCM) is an ASX listed innovative medical technology company specialising in development and marketing of premium non-invasive cardiovascular and pulmonary medical devices. Uscom has three practice leading suites of devices in the field of cardiac, vascular and pulmonary monitoring; the USCOM 1A, Uscom BP+ and the Uscom SpiroSonic spirometers. All Uscom devices are premium resolution, and deploy innovative and practice leading technologies with FDA, CE, CFDA and TGA regulatory approval, and which are currently being marketed into global distribution networks. The USCOM 1A is a simple to use, cost-effective and non-invasive advanced haemodynamic monitor that measures cardiovascular function, detects irregularities and is used to guide treatment. The USCOM 1A device has major applications in Paediatrics, Emergency, Intensive Care Medicine and Anaesthesia, and is the device of choice for management of adult and paediatric sepsis, hypertension, heart failure and for the guidance of fluid, inotrope and vasoactive cardiovascular therapy.
The Uscom BP+ is a supra-systolic oscillometric Central Blood Pressure monitor which measures blood pressure and blood pressure waveforms only previously available using cardiac catheterisation. The Uscom BP+ replaces conventional and more widespread sub-systolic blood pressure monitors, and is the emerging standard of care measurement in hypertension, heart failure and vascular health. The Uscom BP+ provides a highly accurate and repeatable measurement of central and brachial blood pressure and pulse pressure waveforms using a familiar upper arm cuff. The BP+ is simple to use and requires no complex training with applications in hypertension, heart failure, intensive care, general practice and home care.
Uscom SpiroSonic digital ultrasonic spirometers are high fidelity, digital, pulmonary function testing devices based on multi path ultrasound technology. They are simple and accurate to use and provide research quality pulmonary function testing in small hand held devices that can be used in research, clinical and home care environments. The devices are specialised for assessment of COPD, sleep disordered breathing, asthma, industrial diseases and monitoring of pulmonary therapeutic compliance.
For more information, please visit: www.uscom.com.au
Uscom Contacts
Associate Professor Rob Phillips
Executive Chairman
rob@uscom.com.au
Brett Crowley
Company Secretary
secretary@uscom.com.au
