IT TOOK a US investor to recognise the potential but at least local ovarian cancer detection company HealthLinx now has plenty of funding. Which should see the company's OvPlex test for the early diagnosis of ovarian cancer greatly improve the chances of women around the world beating the nasty disease, which has often spread too far for effective treatment when picked up by current tests.
New York institution SpringTree Special Opportunities Fund will contribute up to $7.23 million through a convertible note and take up to a 19.99 per cent stake in HealthLinx in a series of share price-linked monthly payments.
It is the second Australian investment in the ovarian cancer space for SpringTree, which also provided money to Prima Biotechnology, which is testing an immunotherapy treatment for the cancer.
HTX Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
