News | August 02, 2007

Medipattern Announces Closing of $5.2 Million Financing Deal

August 3, 2007 - Medipattern Corp., a developer of computer-aided diagnosis (CAD) medical imaging software designed to detect cancer announced it has closed a deal with Research Capital Corp. issuing 4,730,000 common shares at a price of $1.10 per share for aggregate gross proceeds of $5,203,000.

Research Capital Corp. has an option, exercisable for a period of 30 days following the closing date, to purchase from the Company up to an additional 15 percent, or 709,500 common shares, for further gross proceeds of $780,450 to cover over-allotments and for market stabilization purposes. Research Capital Corporation also received a Compensation Option, exercisable for a period of 24 months following the closing date, to purchase up to an additional 283,800 common shares at $1.10 per share.

The Company intends to use the net proceeds of the offering for: commercialization of B-CAD-MRITM, for breast MR imaging; continued development of product extensions for B-CADTM for breast ultrasound imaging; filing a Pre Market Approval (PMA) with the Food and Drug Administration of the United States for the B-CAD technology; expanding Sales and Marketing initiatives, and general operating purposes.

For more information: www.medipattern.com

Related Content

Artificial Intelligence Performs As Well As Experienced Radiologists in Detecting Prostate Cancer
News | Artificial Intelligence | April 18, 2019
University of California Los Angeles (UCLA) researchers have developed a new artificial intelligence (AI) system to...
Oxipit Introduces Multilingual Support for ChestEye AI Imaging Suite
News | Artificial Intelligence | April 16, 2019
The CE-certified ChestEye artificial intelligence (AI) imaging suite by Oxipit is now available in seven European...
iCAD Appoints Stacey Stevens as President
News | Radiology Business | April 16, 2019
iCAD Inc. recently announced that Stacey Stevens has been named president. As president, Stevens will have expanded...
Enlitic Closes Series B Funding for Artificial Intelligence Solutions for Radiologists
News | Artificial Intelligence | April 08, 2019
Radiology artificial intelligence (AI) company Enlitic announced the close of its $15 million Series B financing round...
iCAD Highlighting ProFound AI for Tomosynthesis at 2019 SBI Annual Symposium
News | Computer-Aided Detection Software | April 04, 2019
iCAD announced it will present its latest artificial intelligence (AI) software solution for digital breast...
A smart algorithm developed by iCAD

A smart algorithm developed by iCAD outlines and scores a suspicious lesion seen in an image created using digital breast tomography. Displayed is the probability calculated by the algorithm that the outlined area includes a cancerous lesion. Image courtesy of Emily Conant, M.D.

Feature | Artificial Intelligence | April 03, 2019 | Greg Freiherr
  Editor's Note: This article was updated following the SBI symposium.  
Siemens Healthineers Debuts AI-Rad Companion Chest CT
News | Artificial Intelligence | January 25, 2019
Siemens Healthineers presented its first intelligent software assistant for radiology, the AI-Rad Companion Chest CT,...
Telerad Tech Launches MammoAssist AI Software
Technology | Computer-Aided Detection Software | January 25, 2019
Telerad Tech recently announced the launch of MammoAssist, a new artificial intelligence (AI) product to analyze and...
Videos | Artificial Intelligence | December 13, 2018
ITN Editor Dave Fornell and ITN Contributing Editor Greg Freiherr share their insights on the vendors showing...
FDA Clears iCAD's ProFound AI for Digital Breast Tomosynthesis
Technology | Mammography | December 07, 2018
iCAD Inc. announced clearance by the U.S. Food and Drug Administration (FDA) for their latest, deep-learning, cancer...