Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

NovAccess Global Announces $10.7 Million Financing

Establishes Strong Financial Base To Advance Development of Novel Cancer Immunotherapies

CLEVELAND, OH / ACCESSWIRE / January 2, 2024 / NovAccess Global Inc. (OTCQB:XSNX), a biomedical company developing novel immunotherapies for brain tumor patients, today announced it entered into a securities purchase agreement with an affiliate of Sumner Global LLC ("Sumner") for a total financing of $10.7 million. Pursuant to the agreement, Sumner agreed to purchase 33.0 million newly issued shares of the Company's unregistered common stock at $0.11 per share, for a $3.63 million cash investment payable on or before January 31, 2024, subject to a financing contingency. In addition, Sumner agreed to make an additional investment of $7.05 million in the form of a convertible note in two tranches, with $3.05 million on February 15, 2024, and the remaining $4.0 million on March 15, 2024, subject to a financing contingency. These notes are convertible into common shares at $0.11 per share. Additional terms of the financing are included in the company's Form 8-K filing with the U.S. Securities & Exchange Commission.

"About 20,000 patients are diagnosed with a malignant brain tumor each year in the US. The 15-18 month average survival of these patients highlights the need for new and less toxic treatments such as our new and potentially more effective form of immunotherapy, TLR-AD1. Our most significant financing to date allows us the opportunity to bring an exciting new and potentially more effective form of immunotherapy to malignant brain tumor patients, with the goal of substantially extending their survival but also improving their quality of life. In just a few years the market to treat these patients is estimated to be well over a billion dollars. These cancer patients need the hope and promise that novel immunotherapies bring. Sumner shares our vision and realizes the potential of our novel cancer immunotherapies," said NovAccess Global's Chief Executive Officer Dr. Dwain K. Irvin. Dr. Irvin added, "We are excited to be moving forward with Sumner in achieving our goal of improving the quality of care for cancer and neurological patients worldwide"

Sumner is a global company that has created value across a diverse range of assets focusing on the procurement of products and services for governments and corporations around the world with an emphasis on healthcare and logistics.

Mr. David Sumner Chief Executive Officer of Sumner Global commented "Sumner Global is extremely excited about growing with NovAccess Global and increasing value for its shareholders. We look forward to supporting NovAccess Global's clinical goals its technology, immunotherapy, whilst at the same time introducing additional revenue generating opportunities that would be supportive to Sumner Global and its endeavors to support Governments around the world in the provision of Healthcare solutions for countries in times of crisis."

About NovAccess Global

NovAccess Global is a biomedical company accelerating novel cancer diagnostics and therapeutics. Our goal is to discover, develop and bring to market novel and innovative medicine and medical devices to improve the quality of care for cancer and neurological patients.

Follow us on social media and stay up to date on all of our developments:

https://www.youtube.com/@novaccess

https://www.facebook.com/novaccessglobal

https://www.linkedin.com/company/64892686

https://twitter.com/novaccessglobal

Forward-Looking Statement

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the Securities Exchange Commission. You are further cautioned that penny stocks and stocks of smaller companies like NovAccess Global Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date thereof.

Investor Relations Contact:

Jordan Darrow
Darrow Associates
631-766-4528
jdarrow@darrowir.com

SOURCE: NovAccess Global Inc.



View the original press release on accesswire.com

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.