Australian health technology company, Global Kinetics Corporation, has successfully raised AUD$14.8 million to rapidly progress the company’s global commercialization strategy for its lead Personal 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.
GKC Managing Director, Andrew Maxwell, revealed the 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 U.S. executive staff.
In addition, this funding will underpin the manufacturing and launch of next generation PKG technology, to be unveiled at the International Movement Disorder Society meeting in San Diego in June this year.
“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. Investors recognise we have a world class technology, we have a product on the market, regulatory approvals in place and we are delivering on our vision to make measurable change to Parkinson’s disease globally. In addition, we have a high calibre executive team in place to execute an ambitious global growth strategy. We look forward to updating investors of continued progress.”
GKC’s lead product is the Personal Kinetigraph (PKG), a first in class medical technology that provides decision support information to neurologists to assist them to manage the key disabling movement symptoms of Parkinson’s – providing better quality of life for People with Parkinson’s at a reduced cost to the healthcare system.
The product has achieved FDA clearance, along with CE Mark and TGA registration. It is now available to more than 50,000 people living with Parkinson’s disease across the U.S., Europe and the Asia-Pacific region via specialty movement disorder clinics.
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