Israeli medical diagnostics company Check-Cap (Nasdaq: CHEK) (NASDAQ: CHEKW), (NASDAQ: CHEKZ) has announced a $4.75 million investment through a private placement of shares. The investors were not named. Check-Cap is developing C-Scan System, a preparation-free ingestible scanning capsule-based system for the prevention of colorectal cancer through the detection of precancerous polyps. It has a market cap of $14 million. RELATED ARTICLES Check-Cap reports positive results on colon screening pill Mayo Clinic joins Check Cap pilot study Check-Cap raises $7.5m at 25% discount FDA approves Check-Cap colon cancer capsule screening trial The company will sell an aggregate of 2,720,178 ordinary shares at a purchase price of $1.75 per share. The private placement is subject to customary closing conditions and is expected to close during the week of December 23, 2019. Check-Cap says that the proceeds will be used for general corporate and working capital purposes. Published by Globes, Israel business news - en.globes.co.il - on December 22, 2019 © Copyright of Globes Publisher Itonut (1983) Ltd. 2019
