Ellex Raises $17.7 Million in Private Placement

November 17, 2017: By Joan McKenna
Ellex iTrack microcatheter

Ellex iTrack microcatheter

Ellex announced Nov. 3 that it raised about US$17.7 million (A$23.2 million) in a private placement to investors of 22.1 million ordinary shares at A$1.05 per share.

The Australia-based ophthalmic laser company said the financing is the largest capital raise in the firm’s history.

Proceeds will be used to accelerate growth of Ellex’ iTrack microcatheter in the market for minimally invasive glaucoma surgery (MIGS) devices.

Ellex said the iTrack saw 71 percent growth in the US in the quarter that ended Sept. 30.

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