New round will help fuel commercialization
efforts in support of ImpediMed's platform technology for the
detection and monitoring of lymphedema.
CARLSBAD, Calif., Feb. 7, 2025
/PRNewswire/ -- ImpediMed, a leader in medical technologies to
clinically monitor and manage fluid and body composition, today
announced an agreement for a five-year $15
million growth capital facility with SWK Holdings
(NASDAQ:SWKH), a life science-focused specialty finance company
catering to small- and mid-sized commercial-stage companies. Funds
raised will provide ImpediMed with funding flexibility and will be
used to support growth and commercialization activities. Armentum
Partners acted as the Company's exclusive financial advisor on this
transaction.
With this new funding in place, ImpediMed's capital base is well
equipped to support the continued execution of its commercial
strategy. As a result, the company is better positioned than ever
to achieve its long-term goals and create significant value for its
shareholders.
As a pioneer in the field of lymphedema detection and
monitoring, ImpediMed offers the only FDA-cleared bioimpedance
spectroscopy (BIS) technology for the clinical assessment of breast
cancer-related lymphedema (BCRL) –– the SOZO® Digital Health
Platform. ImpediMed's platform is broadly accepted and recognized
for effective and accurate screening of lymphedema, with U.S.
health payors now providing coverage for over 258 million covered
lives.
Lymphedema, a common consequence of cancer treatment, is
challenging to detect before symptoms appear. ImpediMed's SOZO®
Digital Health Platform uses BIS to identify fluid changes early,
enabling intervention before lymphedema becomes a chronic
condition. With growing adoption in clinical practice and
increasing payor coverage, ImpediMed's innovative approach is
transforming lymphedema management.
In 2024, the National Accreditation Program for Breast Centers
(NABPC) updated its accreditation standards to include lymphedema
prevention programs utilizing BIS as an evidence-based guideline
for managing lymphedema. The NAPBC is a quality program of the
American College of Surgeons, and accredited programs must
understand, implement, and demonstrate compliance with
accreditation standards outlined in Optimal Resources for Breast
Care. This recognition further validates BIS as a critical tool
in lymphedema management and presents a significant opportunity for
ImpediMed to expand its reach, driving broader adoption of the SOZO
Digital Health Platform across breast cancer centers
nationwide.1
"We are pleased with our agreement with SWK Holdings and the
confidence they have shown in ImpediMed, as well as in the future
of our SOZO Digital Health Platform," said Dr. Parmjot Bains, MD, CEO & Managing Director
of ImpediMed. "SWK's proven approach of supporting innovative
healthcare companies makes them an ideal partner for us as we
pursue our commercial growth strategy over the next five years. We
are confident with the business' direction, and this was reinforced
throughout our due diligence process. In conjunction with our
existing cash reserves, this facility gives us the time and funding
flexibility required to execute on our business plan and fully
capitalize on the BCRL opportunity."
"We believe that the SOZO Digital Health Platform is
revolutionizing how clinicians assess and manage fluid and body
composition, ultimately improving patient outcomes," said JD Tamas,
Director of Underwriting at SWK Holdings. "We are excited to
provide this capital to support ImpediMed's continued mission to
improve the lives of patients by pushing the boundaries of what's
possible in fluid and tissue analysis."
About SOZO Digital Health Platform
SOZO, the world's most advanced, non-invasive bioimpedance
spectroscopy (BIS) device, delivers a precise snapshot of fluid
status and tissue composition in less than 30 seconds. Using
ImpediMed's BIS technology, SOZO measures 256 unique data points
over a wide spectrum of frequencies from 3 kHz to 1000 kHz. Results
are available immediately online for easy data access and sharing
across an entire healthcare system. The FDA-cleared, CE-marked and
ARTG-listed digital health platform aids in the early detection of
secondary lymphoedema, provides fluid status for patients living
with heart or renal failure, and can be used to monitor and
maintain overall health – all on a single device.
About SWK Holdings
SWK Holdings is a life science focused specialty finance company
partnering with small- and mid-sized commercial-stage healthcare
companies. SWK provides non-dilutive financing to fuel the
development and commercialization of lifesaving and life-enhancing
medical technologies and products. SWK's unique financing
structures provide flexible financing solutions at an attractive
cost of capital to create long-term value for all SWK stakeholders.
SWK's solutions include structured debt, traditional royalty
monetization, synthetic royalty transactions, and asset purchases
typically ranging in size from $5.0
million to $25.0 million
About Armentum Partners
Armentum Partners is an investment bank dedicated to assisting
healthcare and technology companies access non-dilutive
capital. Since the beginning of 2023, Armentum has
raised over $3.5 billion for its
clients.
About ImpediMed
Founded in Brisbane, Australia
with US and European operations, ImpediMed is a medical technology
company that uses bioimpedance spectroscopy (BIS) technology to
generate powerful data to maximize patient health. ImpediMed
produces the SOZO® Digital Health Platform, which is FDA-cleared,
CE-marked, and ARTG-listed for multiple indications, including
lymphoedema, heart failure, and protein calorie malnutrition and
sold in select markets globally.
In March 2024, the NCCN Clinical
Practice Guidelines in Oncology (NCCN Guidelines®) for Survivorship
continue to reference bioimpedance spectroscopy as the recommended
objective tool to screen at-risk cancer patients for early signs of
lymphoedema. With the SOZO Digital Health Platform and L-Dex®,
ImpediMed is the only company to offer FDA-cleared technology that
uses bioimpedance spectroscopy for the clinical assessment of
lymphoedema. The connected digital health platform and large,
attractive cancer-related lymphoedema market present an opportunity
for continued strong growth through ImpediMed's SaaS
subscription-based business.
For more information, visit www.impedimed.com.
1 Used with permission of the American College of
Surgeons, Chicago, Illinois. The
original source for this information is the American College of
Surgeons. Content does not reflect the views or interpretations of
the American College of Surgeons.
Media Contact:
Jodi
Perkins
Amendola Communications, on behalf of ImpediMed
jperkins@acmarketingpr.com
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SOURCE ImpediMed