HeartSciences Closes Non-Dilutive Financing to Increase its Cash Runaway Ahead of Upcoming FDA Submission

Southlake, TX, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ:HSCS, HSCSW)) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced the close of a non-dilutive financing, with $1.9 million in net proceeds.  The unsecured loan note has an 18-month maturity date and follows the recent 12-month extension of a $500,000 loan note to September 2025.

Andrew Simpson, CEO of HeartSciences, said, "We have extended our capital runway by $2.4 million since late August ahead of our upcoming FDA submissions. This has been achieved with non-dilutive capital and provides significant opportunity for HeartSciences to hit a number of valuable commercial milestones."

About HeartSciences

Heart Test Laboratories, Inc. d/b/a HeartSciences is a medical technology company focused on applying innovative AI-based technology to an ECG (also known as an EKG) to expand and improve an ECG's clinical utility. Millions of ECGs are performed every week and the Company's objective ...