OPPENHEIMER LEADS $55 MILLION SERIES C FOR PERSPECTUM

Oppenheimer's Investment Banking, Asset Management, and Private Client Division Business Units Teamed Up to Put Together Series C Round as Part of Firm's Private Market Opportunities Initiative

NEW YORK, March 16, 2023 /PRNewswire/ -- Oppenheimer & Co. Inc. (Oppenheimer) — a leading investment bank, wealth manager and a subsidiary of Oppenheimer Holdings (NYSE: OPY) —announced today the completion of a Series C funding round for Perspectum, a United Kingdom-based medical imaging and diagnostic technology provider.

Oppenheimer led the $55 million round, investing $27 million through its Private Market Opportunities (PMO) initiative, an ongoing partnership between the firm's Investment Banking, Asset Management, and Private Client Division business units. The PMO initiative gives high-caliber institutional investors and the firm's qualified private clients the opportunity to invest in private emerging growth companies.  

The transaction is the PMO initiative's fifth deal since 2017. During that time, the firm has led fund raising rounds equaling approximately $250 million.

Robert Lowenthal, President of Oppenheimer and Head of Investment Banking, said, "We congratulate our partner Perspectum on the completion of its Series C funding round and are thrilled to conduct another successful Private Market Opportunity. Medical imaging and diagnostic technology is a highly innovative field, with significant potential for long-term growth that appeals to many of our accredited private investors. This transaction reflects how the full capabilities of Oppenheimer can contribute to better patient care and the development of new therapeutic discoveries."

Perspectum offers noninvasive tools for quantitative assessment and clinical and surgical decision support. Several major U.S. hospitals have adopted use of its LiverMultiScan product. Perspectum and Nuance Communications, a Microsoft company, recently announced a collaboration to deliver, at scale, Perspectum's integrated digital platform suite for metabolic disease care and management.  

Rajarshi Banerjee, MD, PhD, CEO of Perspectum, said, "We are excited to have Oppenheimer join our mission to create safer and more accurate imaging technologies that will help clinicians shorten patients' diagnostic and treatment journeys." He added, "This new funding will help us to continue innovating new products that will make healthcare safer by providing non-invasive alternatives to biopsy, totally changing how and when we can see and treat many diseases."

Bryan McKigney, President, Oppenheimer Asset Management, said, "We take a rigorous and disciplined approach, in collaboration with our Investment Banking colleagues, to pursue Private Market Opportunities. Our research and due diligence consider a diverse array of factors, including the companies' product focus, management team, competitive dynamics, as well as technological progress and regulatory requirements. This enables us to advise on the appropriate funding structure and deal terms, and identify the proper investor pool, in order to pursue the best opportunities for our clients."

Mr. Lowenthal concluded, "Our investment banking team's extensive experience in the healthcare sector and private market capital raising was essential to the successful completion of Perspectum's Series C funding round, as was the expertise of Oppenheimer Asset Management and the Private Client Division in working with investors who share our passion for investing in innovative companies that are developing technologies that will improve the lives of millions of people."

Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high net-worth individuals, families, corporate executives, local governments, businesses and institutions.

About Perspectum
Perspectum, a global medical technology company with offices in the US, the UK, Portugal, and Singapore, delivers leading digital technologies that help clinicians provide better care for patients with chronic metabolic diseases, multi-organ pathology, and cancer. With a strong focus on precision medicine using advanced imaging and genetics, our vision is to empower patients and clinicians through quantitative assessments of health enabling early detection, diagnosis, and targeted treatment. With a diverse team of physicians, biomedical scientists, engineers, and technologists, Perspectum offers a way to manage complex health problems at scale.

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SOURCE Oppenheimer & Co. Inc.