Lincoln Ventures signed a binding letter agreement to acquire all 36,823,916 shares of Aegis Medical Innovations. Aegis holders receive 3.22 Lincoln shares each and would end up with 60 percent of the combined company. Lincoln announced the deal on November 3 and will rename itself Sierra Medical Innovations at closing.
Aegis is a private British Columbia company. Its Sierra System is a micro-invasive, epicardial-only tool and guidance system that secludes the left atrial appendage in atrial fibrillation patients at stroke risk. Aegis developed and patented it with the Mayo Clinic.
The financing is the gating item. A C$300,000 bridge at five cents per share runs alongside a C$6.95 million concurrent round whose terms are not yet set. Up to C$1 million of that money goes straight into Aegis to start a CE mark trial and build the devices for it.
A seven year follow up published in September covered the seven patient first in human study that began in 2014, reporting complete exclusion in every case and no strokes or device related thrombi. A holder of 75.58 percent of Aegis has signed a support agreement that runs to January 31, 2027.