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.
American scientists find themselves once again warning the Trump administration not to dismiss science, the New Yorker report.
A new study suggests CRISPR could be used to save coral reefs from dying off, Forbes reports.
Researchers have found that the i-motif shape of DNA previously observed in the lab also exists in human cells, and that it may serve a purpose.
In PNAS this week: a genomic, transcriptomic, and metabolomic analysis of the tea plant, Arabidopsis thaliana's adaptations to specific local environments, and more.