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Wednesday, March 28, 2012

Cell Therapy Companies Post a Relatively Good Financing Month


In the midst of a tough environment for life science financing, cell therapy had a relatively good month.

According to the our sources, cell therapy companies raised around $100 million this month.   This was done primarily by 6 companies - 5 in the US and 1 in Europe.  If one adds US-based tissue engineering company, Organovo, into the mix it brings the total to just over $110 million.

Bellicum Pharma started off the month with a $20 million Series B round with current and new investors participating.  Funds will be used primarily to fund two phase II trials. >> read more

Aastrom (ASTM) did the largest deal (called a Series B) with $40 million PIPE.  Funds will be used primarily to fund its phase III trial in critical limb ischemia.  >> read more

Athersys (ATHX) announced a PIPE financing of $9 million presumed to be largely dedicated largely to its current pipeline of phase I and II trials.  << read more

Mid-month International Stem Cell (ISCO) arranged a $5 million dollar Series G PIPE in a financing provided by the healthcare investment firm owned by ISCO CEO and Board of Directors Co-Chairman, Andrew Semechkin.  ISCO has a long tradition of this kind of insider financing.  The funds it said will be used to provide "economic stability and resources" to "consolidate" their "leadership position" and "accelerate our therapeutics programs."  >> read more

The relatively unknown, Proteonomix, did what they are calling a Series E for $3.8M along with series A, B and C warrants.  Other than paying management salaries the company has not yet disclosed the intended use of these funds but presumably they will go largely to clinical trials.  Proteonomix has an interestingly convoluted story involving cell banking, cosmetics, and therapeutics with a subsidiary dedicated to each. Recently the company announced they were moving forward with a clinical trial of its product, UMK-121, at the University of Miami.  At the time of this post, however, we cannot find any reference to Proteonomix trial on searching under UMK-121, StomaCel, Proteonomix, "end stage liver disease" or ESLD >> read more

The tissue printing company and media darling, Organovo, closed a $15.2 million private financing in conjunction with it's reverse merger.  >> read more

Absent something happening in the next couple days, European-based Promethera Biosciences, closed out the month with a $31.4 million financing comprised of EUR 17 million from new and current investors and a EUR 6.6 million loan from a local, regional agency. What was notable about this financing in my view was the size of the raise particularly in light of how early the company's products are in development but perhaps even more encouraging was the ilk of investor. Among the new investors were the venture arms of pharmaceutical companies Boerhinger Ingelheim and Shire Pharmaceuticals.  >> read more

If you are are of other deals in the sector this month, let us know and we'll update this accordingly.

1 comment:

Americord Registry said...

How Are Stem Cells Used?