Vivos raises money to advance products, nix debt

Medical isotope developer Vivos late last month completed a common stock equity financing that raised money to eliminate debt and advance product development.

The private placement financing by Vivos, formerly known as Advanced Medical Isotope, included approximately $700,000 of new cash, as well as approximately $900,000 from the conversion of bridge notes, past due compensation, and a long-term loan held by the company's chairman.

Vivos CEO Mike Korenko said the funding is important for the company's efforts to accelerate the development of its yttrium-90 (Y-90) RadioGel brachytherapy device for the human market and for the commercialization of its IsoPet product for the veterinary market.

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