The breadcrumbs I see in the IRAs the 2.5mil was put in by an "existing strategic commercial partner" that would narrow it down to: Toray, Baxter or Infomed. As it's to be used for PMX only that eliminates Infomed. As Baxter has been "shy" about Spectral disclosing commitments so far (secret milestone 2 and 3 amonts), my money is on Baxter.
The reason financing happened this late is they had this 2.5m commitment in hand, and therefore felt comfortable pushing the envelope trying to get whatever they have in the works with Dialco done.
Last year we announced a 20yr exclusive license agreement for DIMI in US/ CA.
So the Nov. 30th "as the parties evaluate strategic options for advancing DIMI through its trial and to commercialization." relates to elements of a Dialco deal that include modifications to the original Infomed /Spectral deal. This would not be necessary to start the trial- but could be made necessary by a buyer/ partner.
The fact that no money was raised for Dialco speaks volumes to the belief that there is another shoe that is going to drop. I mean Sam Amory needs to get paid right.
Finally, the size of this financing is that of a "bridge". It is smaller than last years raise, it wont get them to the trial finish line, might be stressful even carrying them the 60% interim. And of course it has no DIMI funds- so there is obviously another pot that they are counting on.
Thoughts?