02 June 2015 | News | By BioSpectrum Bureau
Aussie parkinson tech company raises $14.8 mn
Global Kinetics has developed Parkinson's KinetiGraph mobile health technology
Singapore: Australian health technology company, Global Kinetics, has 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.
Mr Andrew Maxwell, managing director, Global Kinetics remarked that 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.
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."
The product has achieved FDA clearance, CE Mark and TGA registration and is now available across the USA, Europe and the Asia-Pacific.