Tele: 561.316.3330
Breaking Medical Device News

Monday, October 18, 2021
HomeFUNDINGTransBiotec: Closes on $1.0 Million Financing

TransBiotec: Closes on $1.0 Million Financing

TransBiotec, Inc. (OTC: IMLE), developers of a patented non-invasive alcohol sensing system, announced today that it has closed on $1.0 million in financing from the sale of its Series A-1 Preferred Stock to SOBRSafe LLC, a special purpose vehicle (SPV) formed to further advance SOBRSafe®, the Company’s flagship product. SOBRSafe®, currently in beta testing phase, is a potentially disruptive solution in blood alcohol detection – a touch-based technology with anticipated applications in school buses, commercial trucking fleets, facility access control and more.

This initial $1.0 million is the first tranche of a $2.0 million offering; the Company hopes to close a second tranche of up to $1.0 million within the next 90 days.

“This is a very exciting milestone for TransBiotec, and the ultimate commercialization of SOBRSafe®,” stated TransBiotec CEO Kevin Moore. “This financing is instrumental to our product’s continued development, and gives us the capital necessary to transition into pilot phase testing. We view this as the true beginning of the SOBRSafe® story, and look forward to communicating future milestones as they occur.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of TransBiotec, Inc.’s securities.

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

Stay Connected

spot_img

Don't Miss

Adam S. Epstein New CEO of AliMed, Inc.

In his prior role as Chief Commercial Officer, Epstein directed all customer-facing, demand generation and product development activities. Under his new leadership, AliMed will continue to build a robust portfolio of contracted positions with major, national GPO’s, IDN’s, and Distribution partners to drive sales growth.

Tony Collins Appointed CFO of Xenter

“Xenter is building a platform for medical innovations that is transformational. The only way we can achieve our objectives is if we have great leaders like Tony Collins leading our company,” stated Richard J. Linder, Founder, Chairman & CEO of Xenter, Inc. “Tony brings incredible depth and experience to his new role as Chief Financial Officer.

HistoSonics Receives FDA “Breakthrough Device Designation” for Novel Sonic Beam Therapy

Histotripsy of the liver provides clinicians the first automated external beam therapy using acoustic energy to mechanically destroy and liquefy tissue in the liver without incisions, ionizing radiation or heat.

Scott Sexton Appointed President at FIGUR8

"Scott brings to FIGUR8 30 years of workers' compensation, casualty, disability, and commercial health experience, most recently serving as a market leader for CorVel's national carrier practice sales team," said Nan-Wei Gong, CEO, and co-founder of FIGUR8.

Endolumik Inc. of Morgantown Secures $175,000 Angel Investment from Country Roads Angel Network

Endolumik, Inc. was founded in May 2020 by Mara McFadden, chief executive officer, and Dr. Nova Szoka, inventor of the surgical device.

Insulet Announces Board of Director Changes with Appointment of Luciana Borio, M.D. and Retirement of Sally W. Crawford

Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced...

Ganymed Robotics Awarded a €2.5M Grant from the EC through the EIC Accelerator Program

Ganymed Robotics is developing a radically new approach to surgical robotics by combining computer vision, a branch of artificial intelligence, and mechatronics.

Global Healthcare Exchange Announces Acquisition of Explorer Surgical

Explorer Surgical will operate as a wholly-owned subsidiary of GHX.

By using this website you agree to accept Medical Device News Magazine Privacy Policy