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.
A genome-wide association study highlights a potential role for hair follicles in acne risk, according to New Scientist.
Newsday reports that breast cancer genetic testing guidelines for are out of date and may miss individuals.
In Cell this week: gene editing-based strategy to screen for immune system regulators, ancient plague patterns, and more.
Publication of He Jiankui's work on gene-edited infants would raise ethical concerns for journals, Wired and others report.