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Financings In Brief

InspireMD plans stock offering to raise up to $46 million for stent system. Torax gets $30 mil. for GERD treatment. BioFire Diagnostics raises $25 mil. for FilmArray platform. More financings.

Embolic protection stent system developer InspireMD Inc. seeks to raise up to $46 million through the offering of additional stock to support worldwide commercialization of its MGuard stent system with embolic protection technology, according to a Sept. 24 filing with the Securities and Exchange Commission. The firms’ CE-marked MGuard Prime coronary stent system, which is currently available overseas, consists of a cobalt-chromium stent with an ultra-thin polymer micron mesh sleeve placed over it for embolic protection. The Israeli firm, which generated 2011 sales of $6 million, plans to pursue FDA approval of the device for coronary indications and anticipates a U.S. launch in 2016. Meanwhile, the firm is also developing its MGuard stent technology for peripheral and carotid applications, and plans a version with a drug-eluting bio-absorbable mesh for coronary applications.

In addition to supporting MGuard commercialization efforts, the firm plans to use a portion of the proceeds from the stock offering for debt repayment and “general corporate purposes,” according to...

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