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Point-of-care medical imaging equipment developer CurveBeam AI received Chinese regulatory approval for a $10 million strategic equity investment by Shandong WeiYing Intelligent Medical Technology, a subsidiary of Shandong Weigao Orthopaedic Materials (WEGO Orthopaedics).
The approval covers an initial $4 million tranche, which will be invested via a share placement priced at $0.405 per share, with receipts of funds expected by the month’s end. The remaining $6 million will be invested on the achievement of specified commercial and regulatory milestones.
Shandong’s investment forms part of a 10-year exclusive commercialisation deal incorporating binding sales, marketing, distribution, manufacturing, regulatory support and intellectual property agreements for CurveBeam’s weight-bearing CT and proprietary artificial intelligence (AI) technologies in China, Hong Kong, Macau and Taiwan.
WEGO Orthopaedics has a core portfolio that includes orthopedic implant systems and surgical instruments used in trauma, spine, joint replacement and sports medicine procedures.
CurveBeam AI CEO Greg Brown said, “Being advised of this approval and formal sign-off under the China ODI (outbound direct investment) framework is an important milestone for us and reflects continued broader support for WEGO Orthopaedics and its affiliates. The proceeds will be applied toward regulatory, manufacturing and commercial activities in Greater China and will support the execution of our global growth strategy, providing a pathway to target long-term revenue growth and royalties from a major international market.”
CurveBeam develops, manufactures and sells specialised medical imaging scanners, coupled with AI software-as-a-Service (SaaS)-based clinical assessment solutions to support the management of musculoskeletal conditions. The company’s flagship HiRise product performs weight-bearing and traditional non-weight-bearing CT scans, providing a range of advantages over the use of traditional CT or MRI devices.
Source: Small Caps
Point-of-care medical imaging equipment developer CurveBeam AI received Chinese regulatory approval for a $10 million strategic equity investment by Shandong WeiYing Intelligent Medical Technology, a subsidiary of Shandong Weigao Orthopaedic Materials (WEGO Orthopaedics).
The approval covers an initial $4 million tranche, which will be...
Point-of-care medical imaging equipment developer CurveBeam AI received Chinese regulatory approval for a $10 million strategic equity investment by Shandong WeiYing Intelligent Medical Technology, a subsidiary of Shandong Weigao Orthopaedic Materials (WEGO Orthopaedics).
The approval covers an initial $4 million tranche, which will be invested via a share placement priced at $0.405 per share, with receipts of funds expected by the month’s end. The remaining $6 million will be invested on the achievement of specified commercial and regulatory milestones.
Shandong’s investment forms part of a 10-year exclusive commercialisation deal incorporating binding sales, marketing, distribution, manufacturing, regulatory support and intellectual property agreements for CurveBeam’s weight-bearing CT and proprietary artificial intelligence (AI) technologies in China, Hong Kong, Macau and Taiwan.
WEGO Orthopaedics has a core portfolio that includes orthopedic implant systems and surgical instruments used in trauma, spine, joint replacement and sports medicine procedures.
CurveBeam AI CEO Greg Brown said, “Being advised of this approval and formal sign-off under the China ODI (outbound direct investment) framework is an important milestone for us and reflects continued broader support for WEGO Orthopaedics and its affiliates. The proceeds will be applied toward regulatory, manufacturing and commercial activities in Greater China and will support the execution of our global growth strategy, providing a pathway to target long-term revenue growth and royalties from a major international market.”
CurveBeam develops, manufactures and sells specialised medical imaging scanners, coupled with AI software-as-a-Service (SaaS)-based clinical assessment solutions to support the management of musculoskeletal conditions. The company’s flagship HiRise product performs weight-bearing and traditional non-weight-bearing CT scans, providing a range of advantages over the use of traditional CT or MRI devices.
Source: Small Caps
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
