Login
Medical device start-up Margin-Clear secures $1.25m capital raising
Margin-Clear has been successful in its most recent capital raising from stakeholders and investors of $1.25 million, assisted by Hall & Wilcox.
Naomi Neilson
Firm: Hall & Wilcox (Margin-Clear)
Value: $1.25 million.
Area: Capital raising.
Key players: The team was led by health and community leader partner Alison Choy Flannigan who was assisted by lawyer Rebecca Kazzi, foreign qualified lawyer Candice Gibson and paralegal Lauren Krejci.
Deal significance: Margin-Clear was founded in 2018 by three subspecialist cancer surgeons from different tertiary institutions around Australia to develop, commercialise and manufacture the Margin-Clear device, which is an absorbable patch implanted by the operating surgeon to reduce the risk to the patient of residual cancer cells potentially left behind at the “margin” during cancer surgery.
The company is raising funds to progress product development and collect safety data to complete a US Food and Drug Administration (FDA) regulatory submissions.
“It is great to assist health, pharmaceuticals and medical device start-ups to capital raise to enable them to bring their products to market and improve outcomes for patients,” Ms Choy Flannigan said.
“We have recently advised a number of clients in the sector which have been oversubscribed. It is great to see investment in the sector and our clients thrive. What is pleasing in this transaction is that Margin-Clear was not only able to attract capital for its future activities but also attract investors and partners with industry expertise and track-record in the life sciences commercialisation.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
