Helius Medical nets $18.9mm through FOPO

Neurorehabilitation device start-up Helius Medical Technologies Inc. netted $18.9mm in a public offering of 2.43mm Class A common shares (including the overallotment) at $8.25. The company uplisted to Nasdaq earlier this year and also trades on the TSX. Helius recently received regulatory approval in Canada for its PoNS (Portable Neuromodulation Stimulator) device for TBI. During Q3, it also submitted an application with the FDA for 510(k) clearance and expects to submit applications for marketing authorizations in Europe and Australia during Q4 2018. Helius will use the proceeds to fund commercial launch activities, preparations for submissions of marketing authorizations, and R&D activities (including a clinical trial in multiple sclerosis) for PoNS.