Phelix AI Completes $1 Million Private PlacementMay 27, 2020
Phelix AI Inc., a startup that develops automation tools for the health sector, has completed a private placement of convertible notes for aggregate gross proceeds of $1,000,000. The round was led by Well Health Technologies (“Well”), which contributed $250,000. Other investors were not disclosed. Phelix AI also entered into a strategic alliance agreement with Well, which grants Well the right to use and sublicense Phelix AI’s clinical assistant automation software.
Wildeboer Dellelce LLP acted for Phelix AI in connection with the private placement and the strategic alliance with Well with a team that consisted of Geoff Cher and Melissa Smith (corporate/securities) and Katy Pitch (tax).