PanGIA Biotech, Inc., a company developing diagnostic solutions focused on early cancer detection, announced the successful completion of a private placement of convertible promissory notes to accredited investors, resulting in aggregate gross proceeds of approximately $1.58 million.
The notes were issued at a 10% original issue discount with 100% warrant coverage, mature 12 months from issuance, and bear interest at 10% per annum. The notes automatically convert upon a qualified underwritten public financing at a price equal to 80% of the qualified financing price.
An initial closing of the offering totaling approximately $1.03 million occurred on April 8, 2026, with a second and final closing totaling approximately $550,000 held on April 29, 2026.
Proceeds from the offering will be used for working capital and general corporate purposes as the company advances clinical validation of its PanGIA Prostate Assay and broader oncology diagnostics pipeline toward U.S. commercialization.
WestPark Capital acted as placement agent for the offering. Lucosky Brookman LLP represented PanGIA Biotech in connection with the transaction.
