Conexeu Sciences closes $5M private placement led by insiders

Conexeu Sciences Inc. (NASDAQ: CNXU), a preclinical-stage medical device company, closed a $5 million private placement led by existing shareholders, including members of management and directors, according to a company statement.

The offering consists of 1,666,667 units priced at $3.00 per unit, with each unit comprising one share of common stock and one warrant to purchase one additional share at $3.00, exercisable for 24 months from issuance. No placement agent was engaged and no commissions were paid.

Among the participants are Miles Harrison, President, Chief Executive Officer and Director, and David Bogart, Chief Commercial Officer and Director. Of the total raised, $250,000 in subscriptions from certain management members and directors is being held in escrow pending stockholder approval under Nasdaq Listing Rule 5635(c). If approval is not obtained, those funds will be returned and the related securities will not be issued.

For certain Canadian subscribers, the company issued special warrants at $3.00 each, which automatically convert into one share and one warrant upon the earlier of a British Columbia Securities Commission receipt of a qualifying prospectus or Feb. 16, 2027.

Conexeu said proceeds will be used for manufacturing scale-up, regulatory testing, and preclinical work in support of a planned FDA 510(k) premarket notification for its lead wound care device candidate, Ten Minute Tissue, targeted for submission in the first quarter of 2027. The company noted in an Oct. 6, 2026, update that multiple scaled-up batches of its CXU material met predefined specifications.

The company has agreed to file a resale registration statement with the U.S. Securities and Exchange Commission covering the shares and warrant shares. Additional details will be filed in a Current Report on Form 8-K with the SEC on EDGAR.

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