Prima Temp raises $5M, appoints new CEO

BOULDER — Prima Temp Inc., a Boulder-based company that is developing a smart fertility sensor, has raised $5 million in a debt offering and named a new CEO.

Hungarian drug company Gedeon Richter PLC said it has underwritten $5 million in convertible notes issued by Prima Temp, following on a $5 million equity investment that the company made in Prima Temp in October 2017.

Richter signed an exclusive license and distribution agreement with Prima Temp at that time to commercialize the PriyaRing device globally, with the exception of the United States and Canada.

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PriyaRing is an internal sensor that identifies the subtle temperature changes that occur prior to ovulation and sends a notification to a smart device.

The new $5 million raise was reported in a Form D filed with the U.S. Securities and Exchange Commission, April 5. The filing noted that Prima Temp has raised $5 million out of a $7 million debt offering.

“This funding support of Prima Temp is a clear sign of our commitment towards our partner and it proves our trust in the device under development,” Richter CEO Gåbor Orbån, said in a prepared statement. “In our view, female fertility is a paramount market within Womenʼs Healthcare, which is our core business.”

Prima Temp’s filing to the SEC was submitted by Steven Hane, president and CEO. Hane’s LinkedIn profile says that he assumed the role in January. The previous CEO, Alene Campbell, was appointed in February 2018 and told BizWest in a January profile that she was preparing to step down as CEO for health reasons, and that the Prima Temp team already was interviewing for her successor.

Hane could not be reached for comment.

Prima Temp is a 2010 offshoot of Phase IV Engineering Inc., a firm that specializes in wireless sensors. Prima Temp in October 2018 purchased Kindara, a Boulder-based women’s health-tech company.