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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.
Two COVID-19 vaccine developers have released their trial protocols to build public trust, the New York Times reports.
A new analysis finds the rapid COVID-19 test from DnaNudge to be highly accurate, Reuters reports.
In Science this week: global citizens' assembly on genome-editing technologies proposed, epigenetic markers predict metformin response, and more.
According to the Verge, many US states are not including positive results from rapid COVID-19 testing in their case numbers.