NEW YORK (GenomeWeb) – StemCells today said that it intends to place common stock and warrants with two institutional investors with the aim of raising $20 million in gross proceeds.
Greg Schiffman will join StemCells as chief financial officer and executive vice president of finance in January.
The firm is placing 7 million shares with a private investment partnership. It has not stated its intended use for the proceeds.
StemCells said the restructuring will support the growth of the stem cell culture and cell-based assay platforms it inherited as part of its estimated $4.8 million acquisition of SCS in April.
StemCells plans to invest in Stem Cell Sciences' operational facilities in Cambridge, UK, in order to provide cell-based assay services to the drug discovery industry there, according to SCS' CEO.
StemCells, which is focused on developing tissue-derived cellular products for therapeutic uses, gains cell-based drug discovery technologies through the $4.8 million deal.
Jay Shendure and his colleagues have developed a new method to more comprehensively identify human cell types, the NY Times reports.
Researchers in the UK and Japan have shown that infertility in mice with three sex chromosomes can be overcome, according to the Guardian.
China is embracing preimplantation genetic diagnosis, Nature News reports.
In PLOS this week: host genetic factors associated with cervical neoplasia progression, population patterns for an ancient flowering rainforest plant, and more.