HeartSciences Closes Non-Dilutive Financing to Increase its Cash Runway Ahead of Upcoming FDA Submission

Southlake, TX — Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ: HSCS; HSCSW), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced the close of a non-dilutive financing, with $1.9 million in net proceeds. The unsecured loan note has an 18-month maturity date and follows the recent 12-month extension of a $500,000 loan note to September 2025.

"We have extended our capital runway by $2.4 million since late August ahead of our upcoming FDA submissions. This has been achieved with non-dilutive capital and provides significant opportunity for HeartSciences to hit a number of valuable commercial milestones," said Andrew Simpson, CEO of HeartSciences.