DALLAS and TORONTO, Jan. 4, 2022
DALLAS and TORONTO, Jan. 4, 2022 /PRNewswire/ -- MolecuLight Inc., the leader in point-of-care fluorescence imaging for real-time detection of wounds containing elevated bacterial loads, announces that SWK Holdings Corporation has provided $10M USD structured debt to support MolecuLight's global commercial expansion. SWK Holdings Corporation (Nasdaq: SWKH) is a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies through the creation of unique financing structures. These deals include structured debt, traditional royalty monetization, synthetic royalty transactions and asset purchases, and typically range in size from $5 million to $20 million, a market segment often ignored by other structured finance companies.
"We are thrilled to be working with SWK to non-dilutively finance the rapidly expanding commercial efforts of MolecuLight in North America and globally to meet growing demand," says Anil Amlani, MolecuLight's CEO. "Delayed healing of wounds is a multi-billion-dollar problem, and when wounds have clinically-significant levels of infection, they are unable to heal. MolecuLight's i:X® and DX™ devices are the only point-of-care tools that are FDA-cleared and CE-marked on the market for real-time detection of elevated bacterial burden (>104 CFU/g) in order to help overall wound treatment decision-making. Our many publications and impressive customer base show how we help clinicians in wound care improve clinical outcomes for patients."
"We are most impressed with MolecuLight's unique technology and how it is providing real-time point-of-care insights about bacterial burden in wounds that were previously unavailable to wound care professionals worldwide," says Winston Black, Chairman and CEO of SWK. "With a compelling body of clinical evidence and a fast-growing customer base that is actively incorporating the platform into their clinical decision-making, we believe the MolecuLight i:X and DX devices are quickly becoming the standard of care in wound care. MolecuLight's strong commercial and R&D team, intellectual property protection, clinical evidence and early market traction indicate that the company will be able to expand more quickly with our capital and fulfill the unmet need in wound care treatment."
MolecuLight maintains a Direct Sales and Clinical Applications Support team in the United States and Canada and distributes and supports its products internationally through its Global Distribution Network of 15 distributors.
Tungsten Advisors served as the exclusive financial advisor to MolecuLight.
About MolecuLight Inc.:
MolecuLight Inc., a privately-owned medical imaging company that has developed and is commercializing its proprietary fluorescent imaging platform technology in multiple clinical markets. MolecuLight's suite of commercially released devices, including the MolecuLight i:X® and DX™ fluorescence imaging systems and their accessories, provide point-of-care handheld imaging devices for the global wound care market for the real-time detection of wounds containing elevated bacterial burden (when used with clinical signs and symptoms) and for digital wound measurement. The company is also commercializing its unique fluorescence imaging platform technology for other markets with globally relevant, unmet needs including food safety, consumer cosmetics and other key industrial markets.
About SWK Holdings:
SWK Holdings Corporation (Nasdaq: SWKH) is a specialized finance company with a focus on the global healthcare sector. SWK partners with ethical product marketers and royalty holders to provide flexible financing solutions at an attractive cost of capital to create long-term value for both SWK's business partners and its investors. SWK believes its financing structures achieve an optimal partnership for companies, institutions and inventors seeking capital for expansion or capital and estate planning by allowing its partners to monetize future cash flow with minimal dilution to their equity stakes. SWK also owns Enteris BioPharma, whose Peptelligence® and ProPerma™ drug delivery technologies create oral formulations of peptide-based and BCS class II, III, and IV small molecules. With Enteris, SWK has the opportunity to grow its specialty finance business by actively building a wholly-owned portfolio of milestones and royalties through licensing activities. Additional information on the life science finance market is available on the Company's website at www.swkhold.com.
Safe Harbor Statement
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About Tungsten Advisors:
Tungsten Advisors (www.tungstenadv.com) is an investment banking firm focused on strategic advisory and corporate finance for healthcare and technology companies. Tungsten provides transactional services including financings (private placements/PIPEs), corporate partnering and mergers and acquisitions (M&A). Tungsten also focuses on company incubation and makes direct investments alongside the creation of new companies in healthcare and technology.
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Rob Sandler, Chief Marketing Officer, MolecuLight Inc., T. +1.647.362.4684, firstname.lastname@example.org, www.moleculight.com; Jason Rando (Media), Tiberend Strategic Advisors, Inc, +1.212.375.2665, email@example.com; Maureen McEnroe, CFA (Investors), +1 212.375.2664, firstname.lastname@example.org