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Theralink Technologies to Raise $3.1M in Private Placements

NEW YORK — Theralink Technologies said on Tuesday that it has signed definitive agreements to raise approximately $3.1 million through the sale of debentures and warrants to certain institutional and accredited investors.

The company also said that, in conjunction with the agreements, holders of certain convertible notes and convertible preferred shares in the company have agreed to convert their securities into a total of around $13.4 million of the senior secured convertible debentures and warrants.

Theralink develops tests for breast and other cancers using its phosphoprotein and protein biomarker platform. It also uses its reverse phase protein array assays to provide precision oncology data to the biopharmaceutical industry and clinical oncologists to help identify likely responders and non-responders to drug treatments.

In early 2021, Theralink said that it received a Clinical and Public Health License from the state of California for its laboratory in Golden, Colorado, which is also CLIA certified and CAP accredited.