Biostage (NSDQ:BSTG), a 27-person biotech based in Holliston, Mass., is developing technology to regrow esophageal tissue in patients that have esophageal cancer or atresia. Last week, the company priced a public offering at ¢40 per share of common stock, expecting to bring in $8 million from the round.
The current standard of care for resectable esophageal cancer is complex – surgeons pull a piece of a patient’s stomach or intestine and reposition it in the chest to become the replacement esophagus. However, the procedure comes with a mortality rate that can be as a high as 19% at 90 days, according to Biostage.
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