The Company’s Board of Directors is pleased to announce that the Private Placement led by our financial advisor Corpura Fondkommission AB has been successfully completed, raising of approx. NOK 20 million (€ 2,0 million) in gross proceeds.
The net proceeds from the Private Placement will enable the completion of the ongoing clinical evidence study DE-RISK WF in France, Italy, and Norway. In addition, the proceeds will be used for the continued DXT product development to reach the design freeze, including CE mark submission to secure product launch by Q4-2022.
RESPINOR is working together with Corpura Fondkommission as our financial advisor and intends to list the Company’s shares at a stock exchange in Sweden during the beginning of 2022.
Trude Tingvoll, CEO of RESPINOR, said: “I am grateful for the commitment to the Company from our existing investors and from new Swedish investors that have joined the Company. We are now accelerating the process towards an IPO after a successful product development, where the clinical utility of RESPINOR DXT is documented. With our breakthrough technology, DXT, we aim to secure patients are liberated from the ventilator at the right time when the breathing muscle/diaphragm is strong enough to enable patients to breathe by themselves. I am proud to help these critically ill patients with an easy-to-use technology that will change respiratory health forever”.
RESPINOR AS was founded in 2015 and is a Norwegian MedTech company. The Company is developing a new, non-invasive, ultrasound-based medical device to monitor the diaphragm, the main respiratory muscle, continuously. This is the first ultrasonic sensor that can be attached directly to the patient’s skin to ensure that they are taken off the respirator at the right time when the diaphragm is strong enough for patients to breathe by themselves. The technology has a wide range of potential benefits in several areas, and the Company’s product, based on this technology, is called RESPINOR DXT. The Company’s technology is, among other things, the winner of Horizon 2020 financing, both in phase I and II, and also won the Nordic Life Science Invest Rising Star Awards in April 2021 in the MedTech/Diagnostics category. RESPINOR has successfully completed clinical feasibility studies in Europe (France, Italy, and Norway) for the first target segment, mechanical ventilation, with technical proof of concept and proof of principle confirmed. RESPINOR has currently an ongoing clinical evidence study, DE-RISK WF, which began in April 2021, where they also include COVID-19 patients and is well underway with recruitment.
For further information, please contact:
Trude Tingvoll, CEO of RESPINOR AS
Cell: +47 474 53 313