KIFFIK Biomedical secures a pivotal $50 million investment from GEM Global Yield, positioning the company as a ‘Unicorn-in-Waiting’ and bolstering its revolutionary MedTech solutions for remote patient care and clinical diagnostics.
Providence, Rhode Island, United States, 10th Oct 2023 – USA based KIFFIK Biomedical, Inc. today announced securing a strategic $50 Million investment commitment from GEM Global Yield LLC SCS (‘GEM’), the $3.4 Billion, Luxembourg based, private alternative investment group with offices in Paris, Bahamas and New York. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 550 transactions in 72 countries.
Under the agreement, GEM will provide KIFFIK Biomedical Inc. with a Share Subscription Facility of up to $50 million for a 36-month term following a public listing of the KIFFIK Biomedical common stock. Along with this, KIFFIK Biomedical valuation in 2023 crosses $185m and makes it a Unicorn-in-Waiting with the certainty of capital upon listing on NASDAQ.
KIFFIK Biomedical will control the timing and maximum number of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of KIFFIK Biomedical’s shares, KIFFIK Biomedical will issue warrants to GEM to purchase up to 4.9% of its common stock.
Having secured this funding, KIFFIK Biomedical’s total funding commitment is nowup to $58 Million, with the most recent valuation being $185 Million. This resounding investment commitment continues the fundraising momentum for KIFFIK Biomedical with successful previous investor rounds in 2022.
“KIFFIK Biomedical is proud to announce a revolutionary technology that promises to transform the clinical diagnostic space and remote patient management,” says KIFFIK Biomedical President & CEO George Cagna. “The global healthcare landscape is evolving rapidly, and our innovative solutions are poised to address critical challenges such as reducing healthcare disparities, enhancing medical compliance and improving the overall quality of patient care. The result of which has the potential to significantly reduce healthcare costs and help drive equality initiatives worldwide.”
KIFFIK’s patented platform will disrupt current MedTech markets by offering real-time insights and personalized care in a way that was previously unimaginable while allowing healthcare professionals to fully diagnose, monitor, and more extensively treat patients remotely. Mr. Cagna further adds, “This breakthrough comes after years of research and development, and we remain committed to pushing the boundaries of what’s possible in remote patient care and clinical research.”
KIFFIK Biomedical is actively partnering with healthcare institutions, research organizations, biosensor developers and global MedTech companies interested in further developing and deploying KIFFIK’s breakthrough technology.
For inquiries and collaborations, please contact: deanna.dammers@kiffik.com
This strategic investment round was led by Jawad Farooq, Chief Investment Officer for KIFFIK Biomedical. Speaking on this historic occasion Jawad stated “This is a momentous milestone for KIFFIK Biomedical and its visionary team. By securing this strategic investment commitment of $50m from GEM Group, KIFFIK Biomedical secures its slot as a “Unicorn in Waiting” with certainty of capital upon listing on NASDAQ. This is a quantum leap for KIFFIK in its journey to become a MedTech leader and lights the path for a new wave of inventions in this fast-developing ISF industry.” Jawad is a serial entrepreneur with number of successful startups with potential to become unicorns. He has raised over $150m in institutional funding and is widely published in global press including Forbes, Bloomberg, Yahoo, Business Insider, Associated Press .
About GEM Global Emerging Markets (‘GEM’) is a $3.4 billion, alternative investment group with offices in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 550 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments. For more information: https://www.gemny.com
About KIFFIK Biomedical Inc. KIFFIK Biomedical, Inc. (“KIFFIK”) is a Medical Technology Pioneer that has developed a revolutionary technology based on the continuous extraction of native Interstitial Fluid (ISF) that will transform the medical, life science, and health monitoring industries. ISF is an information-rich biofluid that has been inaccessible for continuous extraction and analysis, until now. KIFFIK is offering a wearable, non-invasive technology which provides continuous access to native interstitial fluid in humans and animals. This technology will revolutionize the collection of ISF, will lead to better quality of life for patients, and will facilitate faster therapeutic developments in the medical and life sciences. KIFFIK Biomedical, its products and team has featured in global press.
Media contact: Deanna Dammers ,VP Investor Relations
Company: Kiffk Biomedical Inc.
Contact No : +19148441143
E-mail: deanna.dammers@kiffik.com
Media Contact
Organization: Kiffik Biomedical Inc.
Contact Person: Deanna Dammers (VP Investor Relations)
Website: https://kiffik.com/
Email: Deanna.dammers@kiffik.com
Contact Number: +19148441143
Address: 128 Dorrance Street, 6th floor
City: Providence
State: Rhode Island
Country: United States
Release Id: 1010236926
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