KarmelSonix Ltd. (ASX: KSX) last week raised AU$2 million in an offering of options and convertible notes, which are not listed on the Australian Securities Exchange. Buyers were private parties and healthcare industry institutions.
KarmelSonix has developed acoustic respiratory monitoring for asthma. The company's products can make an initial diagnosis of asthma, the severity of attacks, and predict the likely development of the disease in order to recommend treatment.
KarmelSonix offers simple devices suitable for home use for children and adults who have difficulty using current diagnostic equipment. The company has marketing approvals, but sales are still low.
KarmelSonix was created through the merger of an Israeli and Australian company. KarmelSonix CMO Prof. Noam Gavriely founded the company.
The offering, which was geared to raise AU$1.5 million, was oversubscribed.
KarmelSonix's share price closed at AU$0.019 on Friday.
Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2010
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