The money was raised from the company's board and management, and an unnamed external investor.
Cell therapy developer Pluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT) has raised $750,000. The company sold 1.5 million shares to an investor at $0.40 per share for $600,000. The company's management and directors also invested $150,000 at the same share price. The company did not disclose the name of the new investor.
The new investor has an option to buy an additional 800,000 shares at $0.75 per share, for a total of $600,000. The option comes into effect after the company announces the launch of its first human clinical trial.
Pluristem is developing non-personalized (allogeneic) cell therapy products for a variety of degenerative, ischemic and autoimmune indications. The share rose 25.7% on Nasdaq yesterday to $0.44, giving a market cap of $3.7 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2008
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