- Pregnancy monitoring tech-company HeraMED has confirmed a $1.42 million share placement to promote its entry into the U.S. market
- At the forefront of the expedition is the company’s products, which allow expecting mothers to monitor the health and heartbeat of their unborn child
- HeraMED will be dispersing 9,184,076 shares, priced at $0.155 each
- The funding campaign will also help the company to promote its clinical trials at the American non-profit research centre — the Mayo Clinic
- Shares in the small-cap HeraMED are trading higher today by 8.82 per cent — achieving a valuation of 18.5 cents per share
Pregnancy monitoring company HeraMED (HMD) has confirmed a A$1.42 million share placement.
The company will dish out 9,184,076 shares, priced at $0.155 each. HeraMED has said the raising is part of an initiative to bring its products to the U.S. market at a faster rate.
“We are pleased to have received such strong support from investors and welcome a number of new shareholders to the register,” HeraMED Chief Executive and co-founder David Groberman said.
“This funding allows HeraMED financial flexibility to expedite its US market entry and progress relationships with key medical organisations and insurance companies.”
HeraMED’s flagship products include “HeraBEAT” and “HeraCARE”.
The former is the most simplified of the two products — providing a hands-free device to show pregnant mothers’ their child’s heartbeat. The child’s heart rate is displayed through a mobile phone application.
HeraCARE provides more of a pregnancy guidebook to expecting mothers, with a mobile phone buddy-app. This app gives lifestyle tips, extensive data, midwife support, a social network, and a pregnancy management calendar.
“Further and importantly, the capital raised will also assist HeraMED to progress pilots and clinical trials for the HeraBEAT U.S. and HeraCARE solutions with the Mayo Clinic, as well as assist uptake in key markets such as Germany, Brazil and India,” David Groberman added.
The Mayo Clinic is an American not-for-profit organisation based in Minnesota, providing research and clinical trials.
HeraMED is currently in collaborative agreements with the Mayo Clinic to further the company’s products through clinical trials.
“Discussions regarding these trials are well progressed and HeraMED looks forward to updating shareholders as these matters progress,” David concluded on Tuesday.
Shares in the small-cap HeraMED are trading higher today by 8.82 per cent — achieving a valuation of 18.5 cents per share.