- Imagion Biosystems (IBX) has completed a placement and raised $6 million
- The placement was cornerstone by four Australian-based institutional investors and was led by Evolution Capital Advisors
- More than 76.5 million shares will now be issued at 8.5 cents, representing a 6 percent discount to the 30-day volume-weighted average price
- Imagion will use the funds to speed-up development plans and begin investing in manufacturing scale-up of its MagSense technology
- Additionally, the company’s phase one study for HER2 metastatic breast cancer is scheduled to begin this quarter
- Imagion is down 4 percent on the market, with shares currently trading for 12 cents each
