Spectral Medical Secures C$8.5 Million Financing

Spectral Medical (TSE:EDT) has released an update.

Spectral Medical Inc. has successfully closed a financing deal, securing approximately C$8.5 million through the issuance of 9% convertible notes, which are due in 2028. The funds raised are intended to advance the company’s Phase III Tigris trial for its PMX treatment targeting endotoxemic septic shock, as well as to support general corporate and operational expenses. Spectral is on a quest for U.S. FDA approval for PMX, a device designed to treat septic shock that has already been used in over 340,000 patients worldwide.

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