OneMedNet secures $1.7 million funding in Minneapolis

On September 26, 2024, OneMedNet Corporation, a leader in curating regulatory-grade Real World Data, announced a significant private placement deal with Off the Chain Capital. This transaction generated approximately $1.7 million in gross proceeds, following a previous placement that raised $2.7 million in July 2024. The recent agreement involved the sale of 1,918,591 shares of common stock at a price of $0.65 per share, along with warrants and pre-funded warrants for additional shares. The funds raised from this private placement are earmarked for working capital and general corporate purposes, which is crucial for OneMedNet as it continues to expand its operations and enhance its platform. The company’s iRWD™ platform is designed to securely de-identify and curate clinical data, which is essential for various healthcare applications, including drug and medical device development. The private placement was structured as a transaction not involving a public offering, meaning the securities sold have not been registered under the Securities Act of 1933. This regulatory framework ensures that the company can raise capital while adhering to legal requirements. Overall, this funding initiative reflects OneMedNet's commitment to advancing healthcare innovation and improving patient outcomes through enhanced data utilization in clinical settings.