Medicalgorithmics Launches Financing from BioFund
Medicalgorithmics and the company’s largest shareholder, BioFund Capital Management LLC, have signed a loan agreement worth up to $3 million. The initiation of this financing ensures the implementation of the company’s strategy for 2023-2026 and expands growth opportunities, particularly in the context of progress in commercializing the platform for analyzing multi-day ECG recordings with proprietary AI algorithms. The disbursement of the first two tranches, totaling $1 million, will take place by the end of 2024.