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Medical device developer Emulate Therapeutics (EMTX) has filed to raise around $15M through an initial public offering.

Emulate didn’t indicate the number or price of the shares to be offered, but indicated in a filing fee schedule that it was seeking to raise approximately $15M.

The company hopes to list its shares on Nasdaq under the symbol EMTX. EF Hutton is serving as lead bookrunner.

Based in Washington, Emulate has developed a patented technology that uses radio frequency waves to treat illnesses on a molecular level. The company believes the technology could be used to treat certain cancers, pain and mental health conditions. Its currently evaluating a device for the treatment of brain cancer tumors.

Emulate is currently operating in the red. For the six months ended June 30, 2022, the company reported a net loss of $13.8M on revenue of $176K.


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