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.
The Associated Press reports that the US government wasted $341,000 on travel by former Health and Human Services Secretary Tom Price.
Women who post YouTube science videos get more critical comments and more comments about their appearance than male video hosts, the New York Times reports.
The Wall Street Journal writes that participating in genetic research brings up the specter of past research ethics lapses for some African Americans.
In PLOS this week: sequences influencing yeast prion aggregation or degradation, dengue virus genetic variants affect transmission dynamics, and more.