Biolux Research Ltd, Vancouver, British Columbia, Canada, has raised CAD $2.4 million in new funding for the company. The funds were raised through a debt issue that is convertible to common shares at the company’s option, and was fully subscribed by existing shareholders of the company.
The proceeds of the financing are designated as working capital to continue development of the OrthoPulse™, a full-mouth, extraoral phototherapy device designed for use with traditional orthodontic treatment to facilitate faster tooth movement and reduced treatment timelines. The funds will also be used to complete initial orthodontic human trials, expand new studies and trials, and develop new technology and additional intellectual property. The new funds are expected to support the company through the commercial launch of the OrthoPulse.
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