Onconetix Secures Funding via Private Placement and Debt Resolution
Private Placement Details: Onconetix completed a private placement of Series D Convertible Preferred Stock and warrants, raising approximately $12.9 million, with $9.3 million paid in cash and the remainder offsetting debts.
Debt Settlement and Use of Proceeds: The company used part of the proceeds to settle approximately $8.8 million in debt to Veru, Inc., and plans to use remaining funds for costs related to terminating a business combination with Ocuvex, Inc., as well as for working capital.
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Authparency.ai Wins First Prize at Southlake Innovation Cup for Solving Healthcare Authorization Issues
- Award Recognition: Authparency.ai's first prize at the Southlake Innovation Cup highlights its unique approach to addressing the $31 billion annual administrative burden in the U.S. healthcare system, enhancing its market position and attracting increased attention.
- Operational Efficiency Improvement: The platform significantly streamlines the prior authorization process by combining deep operational expertise with AI, reducing patient care delays and denials, thereby enhancing workflow efficiency for healthcare providers.
- Market Expansion Plans: Authparency.ai aims to leverage the momentum from the Innovation Cup to accelerate deployment across hospital systems and deepen payer-specific intelligence through expanded transaction volume, with plans to formalize strategic partnerships with EHR vendors and healthcare networks throughout 2026.
- Growing Industry Demand: This award marks a significant milestone, underscoring the increasing demand for practical, operationally informed AI solutions in healthcare, further validating the sustainability and market potential of its business model.
Onconetix Secures $12.9 Million in Financing via Series D Preferred Stock and Warrants, Ends Merger Agreement with Ocuvex, Inc., and Settles $8.8 Million Debt with Veru, Inc.
Financing Transaction Details: Onconetix, Inc. completed a private placement on September 22, 2025, raising approximately $12.9 million through the sale of Series D Convertible Preferred Stock and warrants, with a portion of the proceeds used to pay off debt to Veru, Inc.
Use of Proceeds: The company plans to utilize the remaining funds for costs related to terminating a previous business combination with Ocuvex, Inc., as well as for working capital and general corporate purposes.
