MolecuLight announced today that SWK Holdings has provided US$10 million structured debt to support MolecuLight’s global commercial expansion.
SWK Holdings Corporation 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 US$5 million to US$20 million.
“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 multibillion-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 [US Food and Drug Administration]-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 fulfil the unmet need in wound care treatment.”