Cytori Therapeutics closes $17m funding round

Cytori Therapeutics (NASDAQ:CYTX) said today it closed a $17.1 million rights offering round, floating 6.7 million units at $2.55 each.

Through the rights offering, each of the 6.7 million units consisted of an equal amount of shares of common stock and 3.4 million warrants exercisable for 1 share of common stock at $3.06 per share, the company said.

Maxim Group acted as the dealer-manager for the rights offering, according to a press release from the company

Last September, Cytori said it appointed ex-Becton Dickinson Japanese president John Harris as its new veep and general manager of its cell therapy division.

In July, San Diego, Calif.-based Kerastem Technologies, which owns the commercialization rights to Cytori’s Celution technology, said it won Investigative Device Exemption approval from the FDA to conduct a clinical trial of the Celution technology used to treat female and early male androgenic alopecia.

The 70-patient phase II Style trial will follow-up on initial clinical work in Europe and Japan that the company used for IDE submission, the company said.

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