News Category: Portfolio

Upon closing, combination immediately broadens iRhythm’s ambulatory cardiac monitoring portfolio, including in the large and growing mobile cardiac telemetry category, and adds continuous multi-vitals monitoring capabilities

iRhythm’s commercial scale, health system relationships, market access expertise, and integrated clinical service capabilities are expected to accelerate VitalConnect’s growth and expand customer access

Transaction is expected to enhance iRhythm’s revenue growth rate beginning in 2027 while preserving iRhythm’s previously communicated 15% adjusted EBITDA margin target for 2027

SAN FRANCISCO, Aug. 06, 2026 (GLOBE NEWSWIRE) — iRhythm Holdings, Inc. (Nasdaq: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict and prevent disease, today announced that it and its wholly owned subsidiary, iRhythm Technologies, Inc., have entered into a definitive agreement to acquire Vital Connect, Inc. (“VitalConnect”), a privately held leader in wearable biosensor technology and ambulatory cardiac monitoring.

Upon closing, the transaction is expected to immediately expand iRhythm’s addressable market and advance its evolution into a broader cardiac monitoring and intelligence platform. VitalConnect includes an FDA-cleared platform spanning multiple cardiac monitoring modalities and multi-vitals monitoring capabilities designed for hospital and remote care settings.

iRhythm intends to acquire VitalConnect for total consideration of approximately $287.5 million. The consideration is expected to consist of approximately $237.5 million in cash and approximately $50 million in iRhythm common stock. The cash portion is expected to be funded from existing cash on iRhythm’s balance sheet.

“This combination represents a significant next step in iRhythm’s evolution from ambulatory cardiac monitoring to a broader cardiac monitoring and intelligence platform,” said Quentin Blackford, President and Chief Executive Officer of iRhythm. “VitalConnect adds complementary mobile cardiac telemetry (MCT), multi-vitals and hospital monitoring capabilities that complement Zio and meaningfully expand the categories of patients and customers we can serve. By bringing these capabilities onto iRhythm’s commercial platform, we believe we can accelerate our growth, deepen customer partnerships and reach more patients across the continuum of care.”

“Ambulatory cardiac monitoring, including MCT, is not a one-size-fits all solution,” said Mintu Turakhia, M.D., Chief Medical and Scientific Officer and Executive Vice President of Advanced Technologies at iRhythm. “Clinical needs, physician workflows, care settings and patient preferences vary, and no single monitoring model is optimal for every use case. VitalConnect complements Zio’s differentiated, uninterrupted monitoring experience by adding flexibility and additional capabilities across a broader range of clinical settings. Together, our platforms will offer clinicians greater choice while maintaining a shared focus on high-quality data and clinically actionable information, while creating synergy for future innovation.”

“We believe that iRhythm is the right strategic partner to extend the reach and impact of VitalConnect’s technology,” said Peter Van Haur, Chief Executive Officer of VitalConnect. “By combining our flexible biosensor platform, AI-enabled algorithms and streamlined workflows with iRhythm’s commercial scale and reach, we intend to bring a more compelling portfolio to a larger base of customers and patients than either company could deliver independently. Together, we expect to unlock new growth opportunities across ambulatory cardiac monitoring, inpatient monitoring and hospital-to-home care.”

Strategic and Financial Benefits

• Expands iRhythm’s capabilities immediately upon closing across ambulatory cardiac monitoring, including MCT. VitalConnect adds an FDA-cleared platform supporting multiple monitoring modalities, including MCT, with differentiated capabilities including up to 30-day patient monitoring service, four-in-one functionality, flexible service models and live look-in. Together with Zio AT and iRhythm’s planned next-generation MCT offering, the combination creates a broader portfolio designed to serve distinct customer workflows and patient needs.
• Creates meaningful commercial acceleration opportunities. iRhythm’s scaled commercial organization, established health system relationships, go-to-market capabilities, and integrated clinical service infrastructure are expected to expand access to VitalConnect’s platform. VitalConnect’s presence in hospital and remote monitoring settings also creates new entry points for iRhythm across health system departments and patient care pathways, supporting cross-selling, deeper enterprise relationships and broader prescribing choice.
• Broadens iRhythm’s addressable market across the continuum of care. VitalConnect’s biosensor platform can monitor up to 11 physiological parameters, extending iRhythm’s multi-vitals strategy beyond traditional ambulatory cardiac monitoring. The combination creates additional opportunities in inpatient monitoring, remote patient monitoring and hospital-to-home care, while establishing a platform for future innovation across adjacent cardiovascular and healthcare markets.
• Combines complementary technology, data and workflow capabilities. VitalConnect contributes complementary wearable biosensors, AI-enabled algorithms and flexible cloud-based workflows, and iRhythm brings deep expertise in cardiac diagnostics, proprietary AI-enabled algorithms, clinical operations and large-scale commercial execution. The combination is expected to increase the pace and breadth of product innovation and improve the ability to deliver integrated solutions to health systems.
• Enhances iRhythm’s long-term growth profile. The transaction is expected to be accretive to iRhythm’s revenue growth rate beginning in 2027. By leveraging iRhythm’s scale, infrastructure, and operating model, along with efficiencies across the combined organization, we expect to generate meaningful operating leverage that helps fund future growth investments while maintaining our previously communicated adjusted EBITDA margin target of 15% in 2027.

Transaction Details

The transaction consideration totals approximately $287.5 million, consisting of approximately $237.5 million in cash expected to be funded from iRhythm’s balance sheet and approximately $50 million in iRhythm common stock. The stock component aligns VitalConnect stakeholders with the future value creation potential of the combined company.

In addition, iRhythm will provide VitalConnect with interim working capital financing to fund its normal course of operations and certain specified expenses as the parties work towards closing, with an initial funding of $10 million and additional increments thereafter, up to an aggregate maximum amount of $30 million.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor for iRhythm, and Fenwick & West LLP is acting as iRhythm’s legal advisor.

The transaction is expected to close by the end of 2026, subject to regulatory and other customary closing conditions.

About iRhythm Holdings, Inc.

iRhythm is a leading digital health care company that creates trusted solutions to detect, predict and prevent disease. Combining Zio® wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights and better health for all. For more information, visit www.irhythmtech.com.

About VitalConnect

VitalConnect is a leader in wearable biosensor technology and is expanding its presence in ambulatory cardiac monitoring. The company combines expertise in biomedical engineering, data analytics, chip design, and mobile and cloud software to support clinical decision-making across remote and inpatient settings. VitalConnect’s platform is designed to provide continuous, actionable patient data through an easy-to-use experience for patients and healthcare providers. For more information, visit www.vitalconnect.com.

Use of Non-GAAP Financial Measure

Adjusted EBITDA is defined as net income (loss) before income tax provision, depreciation and amortization, interest expense, and interest income and as further adjusted excludes non-cash operating charges for stock-based compensation expense, changes in fair value of strategic investments, impairment and restructuring charges, business transformation costs, certain intellectual property litigation expenses, certain corporate litigation settlements (net of expected insurance recoveries), costs related to the cybersecurity incident (net of expected insurance recoveries), and loss on extinguishment of debt. Business transformation costs include costs associated with professional services, employee termination and relocation, third-party merger and acquisition, integration, and other costs to augment and restructure the organization, inclusive of both outsourced and offshore resources.

iRhythm has not reconciled its adjusted EBITDA margin target for 2027 because certain items that impact this figure are uncertain or out of iRhythm’s control and cannot be reasonably predicted. Accordingly, a reconciliation is not available without unreasonable effort.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among other things, statements regarding the expected timing and completion of the transaction; the anticipated strategic, commercial, operational and financial benefits of the transaction; the ability to expand into new markets, care settings, customer categories and commercial partnerships; the potential to take advantage of and accelerate VitalConnect’s growth, deepen customer relationships and realize cross-selling opportunities; future product development, regulatory approvals and commercialization; the success of integration and the retention of key employees; the anticipated growth of the mobile cardiac telemetry category; and the expected impact on revenue growth, adjusted EBITDA and adjusted EBITDA margin. These statements may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will” and similar expressions. Forward-looking statements are based on current assumptions and expectations and involve risks and uncertainties that could cause actual results to differ materially, including the possibility that the transaction may not be completed on the anticipated terms or timing; the failure to obtain required regulatory approvals or satisfy other closing conditions; challenges in integrating VitalConnect and realizing anticipated benefits and synergies on the expected timeline or at all; business disruption or diversion of management’s attention; changes in market demand, reimbursement, competition or regulation; product development or regulatory delays; the loss of key VitalConnect employees, customers or partners; and unforeseen liabilities and future expenditures associated with the transaction; and the risks described under “Risk Factors” and elsewhere in iRhythm’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q expected to be filed on or about August 6, 2026. These forward-looking statements speak only as of the date of this press release. iRhythm undertakes no obligation to update them except as required by law.

Oversubscribed financing led by Ally Bridge Group and co-led by Alpha Wave, with participation from new investors Bain Capital Life Sciences, Fidelity Management & Research Company, T. Rowe Price, a leading sovereign wealth fund, Eventide Asset Management and Velosity Capital, and existing investors

Proceeds will advance ADVC001, AdvanCell’s novel Lead-212 PSMA-targeted radioligand therapy for metastatic prostate cancer toward Phase 3 development, expand vertically integrated radiopharmaceutical platform and manufacturing infrastructure, and accelerate its growing pipeline of targeted alpha therapies

Boston, USA and Brisbane, Australia – July 15, 2026 – AdvanCell, a clinical-stage radiopharmaceutical company developing innovative targeted alpha therapies for cancer, today announced the closing of an oversubscribed and upsized US $315 million Series D financing.

The financing was led by Ally Bridge Group and co-led by Alpha Wave, alongside new investors Bain Capital Life Sciences, Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates, Inc., a leading sovereign wealth fund, Eventide Asset Management, and Velosity Capital. Existing investors Morningside, Eli Lilly and Company, SV Health Investors, Sanofi Ventures, Abingworth, SymBiosis, Tenmile, Brandon Capital, Piper Heartland, Catalio Capital Management, Proto Axiom, Time BioVentures and other shareholders also participated in the round.

Targeted alpha therapy is entering a new era in oncology, but until now, broader adoption has been limited by isotope supply and manufacturing challenges. AdvanCell has built a vertically integrated platform centered on proprietary Lead-212 technology that combines secure isotope supply, automated manufacturing and scalable production to accelerate the development and commercial delivery of next-generation targeted alpha therapies.

The financing will advance ADVC001 toward Phase 3 clinical development in metastatic prostate cancer, expand AdvanCell’s proprietary Lead-212 platform, strengthening isotope supply and expanding U.S. manufacturing infrastructure to support Phase 3 development and future commercial demand, and accelerate AdvanCell’s growing pipeline of targeted alpha therapies.

“This financing marks a transformational milestone for AdvanCell and reflects the conviction of an exceptional investor syndicate in the potential of ADVC001 and the innovation behind our vertically integrated Lead-212 platform,” said Philina Lee, Ph.D., Chief Executive Officer, AdvanCell. “Building on our recent leadership appointments and U.S. expansion, this financing puts us in a strong position to enter our next stage of growth and execution, advancing our lead therapy ADVC001 toward registrational development, expanding isotope supply and manufacturing infrastructure to support Phase 3 and future commercial demand, and progressing our Lead-212 pipeline into the clinic. Together, these priorities establish a clear path towards a diversified clinical pipeline with the goal of bringing the promise of targeted alpha therapy to more patients with cancer.”

“The companies poised to lead the next generation of targeted alpha therapies will be those that combine differentiated clinical assets with end-to-end control over supply and manufacturing,” said Andrew Lam, PharmD, Managing Director, Head of Biotech Private Equity at Ally Bridge Group. “AdvanCell has assembled that foundation through its de-risked lead program, vertically integrated platform and experienced leadership team, uniquely positioning the company to execute at scale and emerge as a potential category leader.”

“The most enduring healthcare companies combine breakthrough science with the infrastructure and expertise to repeatedly develop new medicines,” said Nik Economopoulos, Director, Life Sciences Investments, Alpha Wave. “We believe AdvanCell is building that kind of generational company, with the platform, manufacturing capabilities and pipeline to unlock the full potential of targeted alpha therapies.”

Concurrent with the financing round, Andrew Lam of Ally Bridge Group and Nik Economopoulos of Alpha Wave will join AdvanCell’s Board of Directors.

AdvanCell’s lead program, ADVC001, is an investigational Lead-212 PSMA-targeted alpha therapy for metastatic prostate cancer currently in Phase 2 clinical development (NCT05720130). Designed to selectively deliver potent alpha radiation to tumor cells while minimizing radiation exposure to healthy tissue, ADVC001 has the potential to address key limitations of PSMA radioligand therapy, including treatment resistance, tolerability challenges and the need for dose optimization. ADVC001 has demonstrated encouraging Phase 1b anti-tumor activity and favorable tolerability in patients with prostate cancer. These results support the continued advancement of ADVC001 while validating AdvanCell’s Lead-212 platform and its broader pipeline of next-generation targeted alpha therapies across additional cancer indications.

About AdvanCell

AdvanCell is a clinical-stage radiopharmaceutical company developing next-generation targeted alpha therapies for cancer. Through its vertically integrated platform spanning proprietary Lead-212 technology, secure isotope supply, advanced manufacturing and clinical development, the Company is unlocking the full potential of targeted alpha therapy. With integrated operations across North America and Australia, AdvanCell is advancing a pipeline of differentiated precision radiopharmaceuticals designed to improve outcomes for patients with cancer worldwide. For more information, visit  www.advancell.com.au and follow us on LinkedIn.

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment firm focused on private and public high-impact life science innovation. Founded in 2013 by Frank Yu, the firm has led or co-led over $8 billion in healthcare transactions. The firm’s mission is to generate superior risk-adjusted returns for investors guided by the core principle of selective investment in healthcare innovation that addresses unmet medical needs. Ally Bridge Group has offices in New York and Hong Kong. For more information, visit https://ally-bridge.com/ or follow us on LinkedIn.

About Alpha Wave

Alpha Wave is a global alternative asset manager that has four main verticals: private equity, private credit, public markets, and insurance/retirement solutions. It is led by Rick Gerson, Navroz Udwadia, and Ryan Khoury. In private equity, Alpha Wave’s objective is to invest in best-in-class growth stage companies defining category leadership in the AI era along with life science companies pursuing breakthrough innovations; in private credit, direct lending to established businesses seeking funding solutions; and in public markets an uncorrelated strategy. Alpha Wave is building an AI-native life insurance and retirement solutions company. Alpha Wave has offices in Miami, New York, London, Monaco, Madrid, Abu Dhabi, Tel Aviv, Bangalore, Mumbai, New Delhi, and Sydney. Alpha Wave’s investments include SpaceX, Anthropic, OpenAI, Cerebras, TikTok, Aman Resorts, Long Lake, Cognition, and HistoSonics.

Funding supports continued commercial expansion, clinical evidence generation, and ongoing innovation across the CVAC System platform

PLEASANTON, Calif.–(BUSINESS WIRE)–Calyxo, Inc., a medical device company redefining kidney stone treatment, today announced the closing of a $40 million Series F financing round, led by Ally Bridge Group and Janus Henderson Investors, with continued support from Questa Capital, Avidity Partners, and CRG.

The financing follows a key company milestone; 40,000 patients treated with the CVAC System. Adoption of Calyxo’s all-in-one aspiration-based stone removal system reflects increasing clinician recognition that more complete stone clearance leads to improved patient outcomes.

Proceeds from the financing will be used to expand Calyxo’s commercial infrastructure, advance clinical and health economic evidence generation through ongoing and future studies evaluating long-term outcomes and downstream healthcare utilization, and support continued innovation in kidney stone care.

“Ally Bridge Group is pleased to lead this financing to support Calyxo’s continued growth,” said Kevin Reilly, Managing Director, Head of Medtech at Ally Bridge Group. “The company is addressing a meaningful need in kidney stone treatment with a differentiated approach supported by strong clinical validation and physician adoption. We are excited to partner with the Calyxo team as they continue to build on this momentum.”

The CVAC System enables continuous aspiration of stone fragments, supporting more complete stone clearance. Clinical, preclinical, and health economic data have consistently demonstrated low residual stone volume (RSV), improved procedural efficiency, and reductions in downstream healthcare utilization* and cost.^1-3 These findings establish RSV as a critical determinant of outcomes and support a shift in kidney stone treatment toward complete stone clearance as a defining measure of procedural success.

“This financing marks an important inflection point for Calyxo,” said Joe Catanese, PhD, Chief Executive Officer of Calyxo. “More than 40,000 patients have now been treated with the CVAC System. Real-world experience, together with an established body of clinical evidence, indicates that the CVAC System is moving beyond early adoption and becoming an important part of the standard of care in kidney stone treatment. This financing allows us to move faster in advancing our technology and expanding the evidence base to further improve patient care.”

About Kidney Stones

According to the American Urological Association, approximately 10% of people in the U.S. will have a kidney stone at some point in their lives. Kidney stone disease is a painful condition that can result in significant healthcare costs (Current Urology Reports estimates $4.1 billion in annual direct treatment costs by 2030).

About the CVAC System

The CVAC System was FDA-cleared in 2024 and enables a minimally invasive approach for kidney stone clearance. It is an all-in-one solution designed to efficiently and effectively remove kidney stones. It uses irrigation and vacuum aspiration to continuously clear stone fragments during and after laser lithotripsy, enabling physicians to achieve a stone-free outcome.

About Calyxo, Inc.

Calyxo, Inc. is an innovation-driven medical device company focused on improving care for patients with kidney stones by delivering paradigm-shifting solutions that enable urologists to safely, effectively and efficiently achieve unrivaled clinical outcomes. Learn more at calyxoinc.com.

“CVAC” and “Calyxo” are registered trademarks of Calyxo, Inc.

^*Retreatments limited to procedures likely associated with residual stones

References

¹ Matlaga B. Health-Economic Implications of the SURE procedure in Kidney Stone Removal: A Claims Data Analysis based on Two-Year Results of the ASPIRE Study. EAU2026 Conference Presentation, March 2026. Head-to-Head Randomized Controlled Trial Comparing CVAC System Outcomes vs. Standard URS

² Pathak N. Reproducible Stone Evacuation with CVAC Technology: Pooled Analyses of the ASPIRE and CLEARANCE Trials. EAU2026 Conference Presentation, March 2026. Pooled Analysis of Results from Prospective Single-Centre Trial Using the Second-Generation CVAC System and ASPIRE RCT

³ Johnson B. Residual Stone Volume, Rather Than Stone-Free Status, Predicts Downstream Healthcare Utilization After Ureteroscopy: Secondary Analysis of the ASPIRE Trial, March 2026. Head-to-Head Randomized Controlled Trial Comparing CVAC System Outcomes vs. Standard URS

Funding supports continued growth and innovation in thromboembolic disease care

Imperative Care, Inc., a medical technology company focused on advancing treatments for patients suffering from thromboembolic disease, today announced the closing of an oversubscribed $100 million convertible note financing.

The round was co-led by new investors Elevage Medical Technologies and Perceptive Advisors in partnership with existing investor Catalio Capital Management, LP. New investors Longaeva Partners LP and Brown Advisory also participated in the financing. The round was supported by Imperative Care’s existing investors, including Ally Bridge Group and Bain Capital Life Sciences.

Imperative Care also announced the appointment of Evan Melrose, M.D., CEO of Elevage Medical Technologies, to its Board of Directors. A seasoned medtech investor and health care innovator, Dr. Melrose brings extensive experience built over decades identifying and supporting category‑defining medical technology companies.

Proceeds from the financing will support the continued commercialization of Imperative Care’s stroke and vascular thrombectomy portfolios. Proceeds will also be used for investments in next-generation and new product development, including the Telos robotic platform*, as well as clinical evidence generation to further demonstrate the impact of these technologies on patient outcomes.

“This financing is a reflection of the strong momentum we have built and the confidence our investors — new and existing — have in our vision,” said Fred Khosravi, Chairman and CEO of Imperative Care. “We are expanding access to life-saving technologies for patients at the most critical moments of their lives, and this capital positions us to continue driving forward on that mission across stroke, vascular, and beyond.”

Thromboembolic disease is a serious medical condition and a leading cause of long-term disability for adults in the United States. Imperative Care offers solutions for the treatment of blood clots in the cerebral arteries and in the peripheral vasculature, with its products being used commercially in more than 78,000 procedures.

BofA Securities and J.P. Morgan acted as joint placement agents for Imperative Care on the financing.

About Imperative Care, Inc.

Imperative Care is a commercial-stage medical technology company focused on advancing treatments for patients suffering from thromboembolic disease, a serious medical condition caused by blood clot formation inside veins and arteries. Imperative Care was founded with the mission of bringing lifesaving treatments to patients suffering from ischemic stroke and other devastating vascular diseases caused by blood clot formation. The company’s commercially available product portfolio includes the Zoom Stroke System, the Symphony Thrombectomy System and the Prodigy Thrombectomy System. In addition to our commercial products, we are developing the Telos robotic platform*, an endovascular robotic system designed to bring greater precision and standardization to procedures and expand access to lifesaving treatment. Imperative Care is based in Campbell, Calif. https://imperativecare.com.

About Elevage Medical Technologies

Elevage Medical Technologies is a platform established by Patient Square Capital and is dedicated to supporting medical technology companies that can meaningfully improve health outcomes and quality of life for patients. Elevage provides capital along with deep technical, regulatory, and operational expertise to companies ranging from advanced clinical development to commercial acceleration stage. Elevage supports rapidly growing, highly differentiated companies with paradigm shifting technologies and strives to help build industry leading medical technologies. To learn more about Elevage, please visit www.elevagemedical.com

^*Currently in development. Not approved for use or available for sale.

 

SEATTLE, Feb. 02, 2026 (GLOBE NEWSWIRE) — Perspective Therapeutics, Inc. (“Perspective” or the “Company”) (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatments for cancers throughout the body, today announced the pricing of an underwritten offering of 39,576,088 shares of its common stock at an offering price of $3.79 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase 6,598,046 shares of its common stock at a price of $3.789 per pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately $175 million, before deducting underwriting discounts and commissions and other offering expenses payable by Perspective in connection with the offering. The purchase price per share of each pre-funded warrant represents the per share offering price for the common stock, minus the $0.001 per share exercise price of such pre-funded warrant. The offering is expected to close on or about February 3, 2026, subject to the satisfaction of customary closing conditions. All of the shares of common stock and pre-funded warrants to be sold in the offering are being sold by Perspective.

The financing included participation from Commodore Capital, TCGX, Spruce Street Capital, Surveyor Capital (a Citadel company), Affinity Asset Advisors, HBM Healthcare Investments, Ally Bridge Group and other leading healthcare specialist and long only investors.

Piper Sandler, UBS Investment Bank, Oppenheimer & Co., Truist Securities and LifeSci Capital are acting as joint book-running managers for the offering.

Jones acted as financial advisor to the Company for the offering.

Perspective intends to use the net proceeds that it will receive from the offering to advance the clinical development of product candidates, continue to invest in the Company’s manufacturing facilities and for working capital and other general corporate purposes. A portion of the net proceeds may also be used to acquire, license or invest in complementary products, technologies, intellectual property or businesses, although Perspective has no present commitments or agreements to do so.

The securities described above are being offered by Perspective pursuant to a registration statement on Form S-3 that was most recently declared effective by the Securities and Exchange Commission (the “SEC”) on April 8, 2025. A final prospectus supplement will be filed with the SEC. These documents can be accessed on the SEC’s website at www.sec.gov.

Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401 or by email at prospectus@psc.com; UBS Securities LLC, 11 Madison Avenue, New York, New York 10010, Attention: Prospectus Department, by calling 1-833-481-0269 or by e-mail at ol-prospectus-request@ubs.com; Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by calling 1-212-667-8055 or by email at equityprospectus@opco.com; Truist Securities, Inc., Attention: Prospectus Department, 740 Battery Avenue SE, 3rd Floor, Atlanta, Georgia 30339 or by calling 1-800-685-4786 or by email at truistsecurities.prospectus@truist.com; or LifeSci Capital LLC at 1700 Broadway, 40th Floor, New York, New York 10019 or by email at compliance@lifescicapital.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Perspective Therapeutics, Inc.

Perspective Therapeutics, Inc. is a radiopharmaceutical development company pioneering advanced treatments for cancers throughout the body. The Company has proprietary technology that utilizes the alpha-emitting isotope ²¹²Pb to deliver powerful radiation specifically to cancer cells via specialized targeting moieties. The Company is also developing complementary imaging diagnostics that incorporate the same targeting moieties, which provides the opportunity to personalize treatment and optimize patient outcomes. This “theranostic” approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity.

The Company’s neuroendocrine tumor (VMT-α-NET), melanoma (VMT01), and solid tumor (PSV359) programs are in Phase 1/2a imaging and therapy trials in the U.S. The Company is growing its regional network of drug product candidate finishing facilities, enabled by its proprietary ²¹²Pb generator, to deliver patient-ready product candidates for clinical trials and commercial operations.

Safe Harbor Statement

To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the timing of the closing of the offering, as well as the anticipated use of proceeds from the offering and other statements identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause Perspective’s actual results to be materially different than those expressed in or implied by Perspective’s forward-looking statements. For Perspective, this includes satisfaction of the customary closing conditions of the offering, delays in obtaining required stock exchange or other regulatory approvals, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation, interest rates and the labor market. More detailed information on these and additional factors that could affect Perspective’s actual results are described in Perspective’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. All forward-looking statements in this press release speak only as of the date of this press release. Unless required to do so by law, Perspective undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

Extends cash runway into 2028

Proceeds expected to enable completion of ProMIS’ landmark Phase 1b AD study and support execution of key clinical milestones

Blinded 6-month top-line data expected mid-2026; 12-month top-line data expected toward end of 2026

CAMBRIDGE, Massachusetts , Jan. 30, 2026 (GLOBE NEWSWIRE) —  ProMIS Neurosciences Inc. (Nasdaq: PMN) (“ProMIS” or the “Company”), a clinical-stage biotechnology company focused on the generation and development of antibody therapeutics and vaccines targeting toxic misfolded proteins in neurodegenerative diseases, such as Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD), today announced that it has entered into a securities purchase agreement with certain new and existing institutional and accredited investors to issue and sell up to an aggregate of approximately $175 million comprised of (i) 6,815,296 common shares, no par value (the “Common Shares”), (ii) Common Share Warrants to purchase 6,915,296 Common Shares or Pre-Funded Warrants in lieu thereof (the “Common Share Warrants”), and (iii) Pre-Funded Warrants to purchase 100,000 Common Shares (the “Pre-Funded Warrants”, and the Common Shares issuable upon exercise of the Common Share Warrants and Pre-Funded Warrants, the “Warrant Shares”).

6,090,075 Common Shares were sold at a price of $10.77 per Common Share, 100,000 Pre-Funded Warrants were sold at a price of $10.77 less an exercise price $0.0001 per Warrant Share and 725,221 Common Shares were sold at a price of $12.13 per Common Share to certain affiliates and insiders of the Company. The Common Share Warrants have an exercise price of $14.40, are exercisable immediately and will expire upon the earlier of (i) within 60 days of the Milestone Event (as defined below) or (ii) February 3, 2031. The Pre-Funded Warrants are immediately exercisable and will expire when exercised in full. For purposes of the foregoing, the “Milestone Event” means the public announcement via press release or the filing of a Current Report on Form 8-K of topline data from the cohorts treated with single ascending doses of PMN310.

The private investment in public equity (“PIPE”) financing is being co-led by Janus Henderson and Ally Bridge Group, with participation from new and existing investors, including Deep Track Capital, Great Point Partners, LLC, Trails Edge Capital Partners, Wellington Management, and Woodline Partners LP. The ProMIS CEO and members of the management team and Board of Directors are also participating.

“We are pleased to have the support of such a high-caliber group of sophisticated healthcare investors in this transformational financing” said Neil Warma, Chief Executive Officer of ProMIS. “We expect the proceeds to enable the anticipated completion of our landmark Phase 1b Alzheimer’s disease clinical study and accelerate development of the subcutaneous formulation of PMN310. We believe we remain on track to report blinded top-line data in mid-2026 and 12-month top-line data toward the end of 2026.”

ProMIS anticipates the upfront gross proceeds from the PIPE financing to be approximately $75 million, before deducting fees to the placement agents and other offering expenses payable by the Company, and up to an additional approximately $100 million in gross proceeds if the Common Share Warrants and Pre-Funded Warrants are fully exercised for cash. The financing is expected to close on February 3, 2026, subject to customary closing conditions.

Guggenheim Securities acted as lead placement agent and Ceros Financial Services, Inc. and Leede Financial Inc. acted as placement agents in the PIPE financing.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (“Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. ProMIS Neurosciences has agreed to file a registration statement with the SEC registering the resale of the Common Shares and the Common Shares issuable upon the exercise of the Common Share Warrants and Pre-Funded Warrants issued in the PIPE financing.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or other jurisdiction.

About ProMIS Neurosciences Inc.

ProMIS Neurosciences is a clinical-stage biotechnology company committed to the discovery and development of therapeutic antibodies and vaccines selective for toxic oligomers associated with the development and progression of neurodegenerative and other misfolded protein diseases. The Company’s proprietary target discovery engine, EpiSelect™, has been shown to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins that cause neurodegenerative and other misfolded protein diseases, including Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD), multiple system atrophy (MSA), and Parkinson’s Disease (PD). ProMIS has offices in Cambridge, Massachusetts (USA) and Toronto, Ontario (CAN).

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ‎‎”forward-looking information”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the ‎use of forward-looking terminology such as “plans”, “excited to”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, ‎‎”is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and ‎phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be ‎achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. Specifically, this news release contains forward-looking information relating to the expected timing for the closing of the PIPE financing, the anticipated use of proceeds from the PIPE financing, the potential exercise of the Common Share Warrants and anticipated proceeds therefrom, and planned timing to report blinded top-line data and 12-month top-line data. Statements containing forward-looking information are not historical facts but instead represent management’s current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to ‎known and unknown risks, uncertainties and assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the Company’s ability to fund its operations and continue as a going concern, its accumulated deficit and the expectation for continued losses and future financial results. Important factors that could cause actual results to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the “Risk Factors” section of the Company’s most recently Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission, and subsequent quarterly reports. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

PETAH TIKVA, ISRAEL and BOCA RATON, FL—Biobeat Technologies, Ltd., developer of the first FDA-cleared, 24-hour ambulatory blood pressure monitoring (ABPM) system that is a patch-worn, cuff-less solution for diagnosis and treatment of hypertension, announced today the closing of a $50 million Series B equity financing.

The financing was led by new investors Ally Bridge Group, OrbiMed Advisors and Elevage Medical and included participation from a strategic investor. Proceeds from the financing will be used to expand commercialization in the United States.

Cuff-based ABPM devices have historically been underutilized due to their frequent and disruptive inflation cycles resulting in low patient compliance and logistical device and data collection issues for clinical staff. By contrast, the Biobeat sensor allows the patient go about their daily activities and sleep undisturbed. At the completion of the ambulatory test, the device is disposed of by the patient and a high-quality report is generated automatically and available in seconds in the institution’s electronic medical records.

“I am delighted to welcome world-class venture capital investors Ally Bridge, OrbiMed and Elevage to the Biobeat team. We believe that Biobeat will have a profoundly positive impact on clinical utilization of ABPM, similar to what was experienced with ambulatory ECG monitoring once a patch-worn device became available,” said Raymond W. Cohen, Executive Chairman of Biobeat.

The company also welcomed Steven Plachtyna of Ally Bridge, Dina Chaya of OrbiMed and Evan Melrose of Elevage to its Board of Directors.

Arik Ben Ishay, CEO of Biobeat, said, “This is an exciting time for the company as we bring on a talented field sales team to expand commercialization of our novel ABPM system. Based on our winning, clinically validated embodiment, the time has finally arrived to make ABPM a true standard of care to help diagnosis and titrate anti-hypertensive medications for the over 100 million hypertensive patients in the U.S.”

About Biobeat

Biobeat is an innovative company with operations in Tel Aviv, Israel and Boca Raton, Florida. Biobeat is focused on revolutionizing the blood pressure monitoring landscape by expanding the use of ABPM for hypertensive patients and providing 24-hour blood pressure data that allows for patient comfort and uninterrupted sleep while capturing critical nighttime BP measurements seamlessly and accurately. For more information visit www.bio-beat.com

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment firm focused on private and public high-impact life science innovation. Founded in 2013 by Frank Yu, the firm has led or co-led over $7 billion in healthcare transactions. The firm’s mission is to generate superior risk-adjusted returns for investors guided by the core principle of selective investment in healthcare innovation that addresses unmet medical needs. Ally Bridge Group has offices in New York and Hong Kong. To learn more, please visit ally-bridge.com

About OrbiMed

OrbiMed is a leading healthcare investment firm, with over $19 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through private equity funds, public equity funds, and royalty/credit funds. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies. OrbiMed’s team of over 130 professionals is based in New York City, London, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets. To learn more, please visit www.orbimed.com

About Elevage Medical Technologies

Elevage Medical Technologies is a platform established by Patient Square Capital and is dedicated to supporting medical technology companies that can meaningfully improve health outcomes and quality of life for patients. Elevage provides capital along with deep technical, regulatory, and operational expertise to companies ranging from advanced clinical development to commercial acceleration stage. Elevage supports rapidly growing, highly differentiated companies with paradigm shifting technologies and strives to help build industry leading medical technologies. To learn more about Elevage, please visit www.elevagemedical.com

Appointment reinforces ProMIS Neurosciences’ strategic vision and deepens investor engagement as the Company advances its differentiated Alzheimer’s program, PMN310

CAMBRIDGE, MA—(GLOBE NEWSWIRE)—ProMIS Neurosciences, Inc. (Nasdaq: PMN), a clinical-stage biotechnology company developing next-generation therapies for Alzheimer’s disease (AD) and other neurodegenerative disorders, today announced that Slanix Paul Alex, Pharm.D., President and Portfolio Manager for Ally Bridge Group’s Public Equity strategy, has joined the Company’s Board of Directors. Dr. Alex has a highly distinguished Wall Street career spanning multiple leadership positions at public markets-focused healthcare investment firms and substantial sell-side biotechnology equity research experience. His deep understanding of capital markets, biopharma innovation and business development trends will provide valuable perspective to ProMIS.

“We are very pleased to welcome Slanix to ProMIS’ Board of Directors,” said Neil Warma, President and Chief Executive Officer of ProMIS Neurosciences. “As a highly esteemed member of the investment community, Slanix’s reputation, institutional knowledge and wealth of experience and insights will be invaluable as the Company approaches its key inflection points, with planned data readouts in 2Q26 and 4Q26 from its PRECISE-AD trial evaluating PMN310 in Alzheimer’s disease and as the Company advances towards late-stage clinical development. Ally Bridge Group is one of our largest shareholders and Slanix has been instrumental in championing this investment over the past couple of years, which I believe is a testament to the long-term value we believe the company can deliver for patients and investors.”

“I have strong conviction in ProMIS’ underlying science, its leadership team and their execution as exemplified by Ally Bridge Group’s multiple investments over the past couple of years in the Company, most recently in July of this year,” said Dr. Alex. “Through our comprehensive diligence process, I have immersed myself in ProMIS’ foundational science and robust drug development pipeline, have built intimate relationships with the management team, and strongly believe they showcase the potential to unlock meaningful value. I look forward to working together to continue advancing PMN310 into the next phase of clinical development and usher ProMIS’ next-generation therapies targeting toxic misfolded proteins to patients.”

Dr. Alex joined Ally Bridge Group in 2023 and is the President and Portfolio Manager for the Public Equity strategy. Before joining Ally Bridge Group, Slanix invested in life sciences companies as a founding Partner and Senior Analyst for Tri Locum Partners and previously as an Investment Analyst for Consonance Capital Management. Prior to the buy-side, Slanix worked in sell-side biotechnology equity research at RBC Capital Markets and Credit Suisse. Slanix began his career in strategy consulting at Bionest Partners, advising life sciences companies on business development and commercial strategy. Slanix is a licensed pharmacist and holds a PharmD from St John’s University.

About Ally Bridge Group

Ally Bridge Group is a global healthcare investment manager focused on high-impact life sciences innovation in private and public markets. The Firm was founded in 2013 by Frank Yu, Chief Executive and Chief Investment Officer, and manages a significant investment portfolio across offices in New York and Hong Kong. Through scientific and clinical research overlaid with M&A and capital markets expertise, Ally Bridge Group seeks to capture investment opportunities across the capital structure addressing unmet medical needs.

About ProMIS Neurosciences Inc.

ProMIS Neurosciences is a clinical-stage biotechnology company committed to the discovery and development of therapeutic antibodies and vaccines selective for toxic oligomers associated with the development and progression of neurodegenerative and other misfolded protein diseases. The Company’s proprietary target discovery engine, EpiSelect™, has been shown to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins that cause neurodegenerative and other misfolded protein diseases, including Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD), multiple system atrophy (MSA), and Parkinson’s Disease (PD). ProMIS has offices in Cambridge, Massachusetts (USA) and Toronto, Ontario (CAN).

About PMN310 and the PRECISE-AD Trial for Alzheimer’s Disease (AD)

PMN310, the Company’s lead product candidate for the treatment of AD, is a humanized monoclonal antibody that has been designed to selectively target only the toxic oligomers, avoiding plaque, thereby potentially reducing or eliminating amyloid-related imaging abnormalities (ARIA) liability. In addition, because PMN310 may not be limited by off-target binding or side effects, PMN310 could potentially offer an improved efficacy profile over other amyloid-directed antibody therapeutics. PMN310 was granted Fast Track designation by the U.S. Food and Drug Administration in July 2025.

Based on the encouraging results from the Phase 1a trial (NCT06105528) of PMN310, ProMIS initiated PRECISE-AD, a Phase 1b clinical trial in AD patients. PRECISE-AD (NCT06750432) is a randomized, double-blind, placebo-controlled study to evaluate the safety, tolerability and pharmacokinetics (PK) of multiple ascending doses (5, 10, 20 mg/kg) of intravenous PMN310 in patients with Mild Cognitive Impairment due to AD and mild AD (Stage 3 and Stage 4 AD). PRECISE-AD will be the first study to examine the effects of a monoclonal antibody directed solely against AβO on biomarkers associated with AD pathology and clinical outcomes. Safety will be a primary outcome of the study with particular emphasis on assessing whether, as a non-plaque binder, PMN310 may have a reduced risk of ARIA. The study is powered to provide 95% confidence for detection of ARIA. The study has been designed with a sample size intended to provide sufficient power to provide meaningful insight into effects of PMN310 on biomarkers and clinical outcomes.

EpiSelect^TM Drug Discovery Engine

Toxic misfolded proteins underlie the pathogenesis of neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease (PD), amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD). Generation of therapeutic antibodies selectively targeting only disease-misfolded protein isoforms, while sparing normal or irrelevant isoforms of the same protein, has not yet been successfully achieved by conventional immunization strategies. ProMIS Neurosciences has developed a computational platform (EpiSelect^TM) to identify conformational epitopes that are uniquely exposed on toxic misfolded proteins, which can then be used to generate misfolding-specific antibodies or vaccine formulations. Application of the ProMIS platform produced PMN310, a clinical stage, humanized monoclonal antibody candidate that has been shown to be highly selective for toxic amyloid-beta oligomers (AβO) without significant reactivity with amyloid-beta monomers or fibrils, thereby avoiding target distraction by these more abundant species, and potentially reducing the risk of brain edema and microhemorrhages associated with the targeting of vascular/parenchymal amyloid. Similarly, specific epitopes for alpha-synuclein toxic oligomers/soluble fibrils that drive synucleinopathies, and for pathogenic TDP-43 in ALS and FTD have been identified and lead candidate antibodies generated. The precise conformation of these epitopes has been translated into vaccines inducing an antibody response selective for pathogenic molecular species in preclinical mouse vaccination studies

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ‎‎“forward-looking information”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the ‎use of forward-looking terminology such as “plans”, “pleased to”, “look forward to”, “potential to”, “on track to”, “targets”, “expects” or “does not expect”, “is expected”, “excited about”, “an opportunity exists”, ‎‎“is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and ‎phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be ‎achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. Specifically, this news release contains forward-looking information relating to the contributions of the Company’s leadership team and board of directors, the Company’s clinical progress of its lead product, PMN310, planned timing for anticipated data readouts in the second and fourth quarters of 2026 and the possibility that PMN310 has the potential to positively benefit patients with AD and to be a more effective and well-tolerated option, the targeting of toxic misfolded proteins in neurodegenerative diseases that the Company believes may directly address fundamental AD pathology (including the belief and understanding that toxic oligomers of Aβ are a major driver of AD) and have greater therapeutic potential due to reduction of off-target activity and the Company’s computational platform, including the capabilities thereof and the application of its platform to other diseases. Statements containing forward-looking information are not historical facts but instead represent management’s current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to ‎known and unknown risks, uncertainties and assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risk that clinical results or early results may not be indicative of future results, the Company’s ability to fund its operations and continue as a going concern, its accumulated deficit and the expectation for continued losses and future financial results. Important factors that could cause actual results to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the “Risk Factors” section of the Company’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent filings filed with the United States Securities and Exchange Commission. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

 

Sofinnova Partners leads premier investor syndicate backing Galvanize’s breakthrough pulsed electric field (PEF) platform—a first-of-its-kind, non-drug approach targeting solid tumors and chronic bronchitis, the leading cause of COPD.

REDWOOD CITY, Calif., Sept. 3, 2025 /PRNewswire/ — Galvanize (“Galvanize”) Therapeutics, Inc, a commercial-stage medical technology company pioneering pulsed electric field (PEF) therapies for oncology and chronic lung disease successfully raised an oversubscribed $100 million Series C financing. The round was led by Sofinnova Partners, a leading European life sciences venture capital firm, with participation from a global syndicate of top-tier investors including Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors and Longaeva. Existing investors Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical and the company’s founding investor, Apple Tree Partners (“ATP”), also participated in the round.

Proceeds from the financing will be used to expand the company’s commercial footprint and advance its clinical and development activities related to Aliya® PEF in solid tumors and RheOx® therapy for chronic bronchitis. The company will also use the funds to continue to innovate its novel PEF platform, a non-pharmacologic intervention which uses non-thermal, short-duration, highly focused electrical pulses that destabilize cellular pathologic processes in hopes of changing the disease trajectory for these patients.

Concurrent with the financing, Doug Godshall, former CEO of Shockwave Medical and HeartWare International, was appointed Chairman and CEO of Galvanize Therapeutics, while Jonathan Waldstreicher assumed the role of President and Chief Strategy Officer.

Mr. Godshall commented: “I began following Galvanize in 2016 and became actively involved when I joined the board as Chairman in 2021. I have grown increasingly enthusiastic about the company’s prospects over the last year as the team continued advancing our portfolio and commencing our initial commercial efforts. Galvanize’s Aliya and RheOx technologies hold great promise in the fields of solid tumor oncology and chronic bronchitis. There are millions of patients who are underserved by today’s largely pharmaceutical approaches, and I feel fortunate to be able to join the team as we seek to meaningfully improve the outcomes of those who are suffering with these chronic diseases.”

As part of the financing, Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, Zack Scott, M.D., General Partner at Norwest, and David Lewis, Managing Partner at Gilmartin Capital, have joined the Board of Directors.

Mr. Papiernik added: “We have closely followed Galvanize for years and are impressed by its technology, strong team, and execution. Partnering again with Doug after our Shockwave success, and working with such a powerful syndicate, was an opportunity we couldn’t refuse. We believe Galvanize’s PEF program could significantly improve treatment and benefit patients with serious unmet needs.”

About Galvanize Therapeutics

Galvanize™ aims to become the global leader in delivering medical technology innovations that drive biologic processes to treat a range of diseases, including solid tumors, and chronic bronchitis symptoms. The company is based in Redwood City, CA, and is developing and commercializing its revolutionary Aliya^® PEF energy platform in the United States. For more information, please visit www.galvanizetx.com.

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage.

Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners manages over €4 billion in assets. For more information, please visit: sofinnovapartners.com.