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RTW Venture Fund Ltd - New York-based investor in life sciences, biopharmaceutical, and medical technology companies - Notes an announcement by portfolio company Magnolia Medical Technologies Inc of its completion of USD46 million growth equity financing round.
Confirms that it participated in the financing round together with other investors.
Magnolia Medical is a privately held medical technology company headquartered in Seattle and San Mateo, California.
The proceeds from the financing round are intended to further accelerate the commercialization of its Steripath Initial Specimen Diversion Device platform and for fast-tracking new innovations in sepsis diagnostic accuracy and timelines.
Current stock price: USD1.48
12-month change: down 35%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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