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nanotimes
Companies Facts
Hansen Medical, Inc., to continue integrating Luna’s shape sensing technology into Hansen’s medical robotic products. In December 2009, Luna and Hansen entered into a multi-year development and supply agreement in which Luna would supply and license its fiber optic shape sensing technology for integration into Hansen’s medical devices.
Furthermore, Luna Innovations has entered into a $7 million credit facility with Silicon Valley Bank (SVB). This credit facility includes a four-year term loan of $6 million and a $1 million revolving line of credit and replaces the $5 million dollar revolving credit facility that Luna established with SVB in February 2010. Luna has used the funds from the new credit facility to pay off the outstanding balance of the revolving credit line in the amount of $2.5 million and the outstanding $3.1 million balance on its $5.0 million promissory note to Hansen Medical, Inc.
http://www.lunainnovations.com
M
agForce Nanotechnologies AG (MF6.FSE) reported financial results and company high-
lights for the fiscal year ended December 31, 2010. In 2010, the company laid the groundwork to bring its novel NanoTherm®
2010, MagForce received EU approval for its medi- cal products, NanoTherm®
therapy to the market. In June and NanoActivator™, for
the treatment of brain tumors. Through two capital measures, the company secured access to EUR23.4 million to restructure the company from its former research focus and build development and commer- cial expertise. In 2010, the company successfully carried out two equity measures to secure access to EUR 23.4 million and ensure the initiation of its European market launch. At the beginning of May
M
echatronic systemtechnik gmbh manufacturer of thin-wafer handling systems recently came
out with two newly developed stand-alone systems: Taiko Ring Remover TRR200/300 and Frame Packing Tool FPT150/200
For the first time, the Taiko Ring Remover TRR200/300 enables fully automated removal of laser-cut rings from laminated 200mm (8“) and 300mm (12“) wafers. “Whereas earlier the rings
2010, MagForce signed a Standby Equity Distributi- on Agreement (SEDA) with YA Global Master SPV Ltd. (YA Global), in which, for a three year period, YA Global commits to subscribe and purchase up to EUR20 million of newly issued MagForce shares. In addition, the company raised an additional EUR .4 million through a capital increase in June of 2010. The shares were placed with German and internatio- nal institutional shareholders. With a secure financial basis in place, the company was able to expand its management team and hire experienced individuals to build sales and marketing and support product commercialization. Due to these expenditures, net loss for 2010 increased as expected to EUR7.4 milli- on from EUR4.1 million in 2009.
The net loss relates directly to the increase in other operating expenses from EUR1.0 million in 2009 to EUR3.7 million in 2010. The increase can be mainly attributed to costs associated with financing activi- ties and projects relating to market access strategy, reimbursement for the key European markets, me- dical software development, and corporate finance. Headcount increased from 24 in 2009 to 28 in 2010.
http://www.magforce.com
11-05 :: May/June 2011
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