By Industry News
SWK Holdings Financially Contributes to MolecuLight's to Global Commercial Expansion
DALLAS, TEXAS and TORONTO, ONTARIO, January 4, 2022 – MolecuLight Inc., a provider in point-of-care, fluorescence imaging for the detection of elevated bacterial loads within wounds announces that SWK Holdings Corporation has provided $10M USD structured debt to support MolecuLight’s global commercial expansion. SWK Holdings Corporation (Nasdaq: SWKH) is a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies through the creation of unique financing structures. These deals include structured debt, traditional royalty monetization, synthetic royalty transactions and asset purchases, and typically range in size from $5 million to $20 million, a market segment often ignored by other structured finance companies.
“We are thrilled to be working with SWK to non-dilutively finance the rapidly expanding commercial efforts of MolecuLight in North America and globally to meet growing demand,” says Anil Amlani, MolecuLight’s CEO. “Delayed healing of wounds is a multi-billion-dollar problem, and when wounds have clinically-significant levels of infection, they are unable to heal. MolecuLight’s i:X® and DX™ devices are the only point-of-care tools that are FDA-cleared and CE-marked on the market for real-time detection of elevated bacterial burden (>104 CFU/g) in order to help overall wound treatment decision-making. Our many publications and impressive customer base show how we help clinicians in wound care improve clinical outcomes for patients.”
"We are most impressed with MolecuLight’s unique technology and how it is providing real-time point-of-care insights about bacterial burden in wounds that were previously unavailable to wound care professionals worldwide," says Winston Black, Chairman and CEO of SWK. "With a compelling body of clinical evidence and a fast-growing customer base that is actively incorporating the platform into their clinical decision-making, we believe the MolecuLight i:X® and DX devices are quickly becoming the standard of care in wound care. MolecuLight’s strong commercial and R&D team, intellectual property protection, clinical evidence, and early market traction indicate that the company will be able to expand more quickly with our capital and fulfill the unmet need in wound care treatment."
MolecuLight maintains a Direct Sales and Clinical Applications Support team in the United States and Canada and distributes and supports its products internationally through its Global Distribution Network of 15 distributors.
Tungsten Advisors served as the exclusive financial advisor to MolecuLight.
MolecuLight is the manufacturer of MolecuLight i:X®, a point-of-care fluorescence imaging device for digital wound measurement and detection of elevated bacterial burden in wounds, with CSS.
About SWK Holding
SWK Holdings provides capital solutions for commercial-stage healthcare and life science companies and royalty owners.
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About Tungsten Advisors
Tungsten Advisors is an investment banking firm focused on strategic advisory and corporate finance for healthcare and technology companies. Tungsten provides transactional services including financings (private placements/PIPEs), corporate partnering and mergers and acquisitions (M&A). Tungsten also focuses on company incubation and makes direct investments alongside the creation of new companies in healthcare and technology.
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The views and opinions expressed in this blog are solely those of the author, and do not represent the views of WoundSource, HMP Global, its affiliates, or subsidiary companies.