By AuntMinnie.com staff writers

May 10, 2019 -- MRI Interventions has received a $4 million equity investment from PTC Therapeutics, a developer of gene therapy-based products for rare diseases.

PTC agreed to buy MRI Interventions stock at a price of $3.10 per share. PTC will also get the right to participate in future financings by MRI Interventions, and the right to designate a director to the company's board as long as certain conditions are met. PTC has nominated its chief operating officer, Marcio Souza, for the seat.

In addition to the investment, the companies entered into a supply agreement in which MRI Interventions will supply its neurosurgical devices for PTC's current and future gene therapy programs. MRI Interventions makes the ClearPoint neuro navigation system, which is designed to guide minimally invasive procedures in the brain.

With the PTC investment, MRI Interventions has secured a total of $5.4 million in funding.


Copyright © 2019 AuntMinnie.com
 

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: