BioTime yesterday announced a new offering of shares to support the development and commercialization of its regenerative medicine technologies.
BioTime and its subsidiaries develop regenerative technologies around pluripotent stem cells and cell-based therapies.
Oppenheimer & Co will act as sole book-running manager for the offering, according to a press release. The company has not yet stated how it plans to use funds from the round, nor how many shares or cost per share for the offering.
Earlier this month, Biotime said its subsidiary Cell Cure Neurosciences won a $2.2 million grant from the Israel Innovation Authority of the Ministry of Economy and Industry.
The grant will support the continued development of its cell-based therapeutic OpRegen, designed to treat severe stages of the dry form of age-related macular degeneration, a leading cause of blindness in individuals over 60.
OpRegen is composed of retinal pigment epithelial cells produced through a proprietary process to differentiate embryonic stem cells into high purity RPE cells, the company said.
Treatment with the product is expected to be carried out through a single procedure, unlike other treatments which require frequent injections, BioTime said.
The post BioTime announces new funding round appeared first on MassDevice.
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