Pluristem prices $15m offering to fund Covid-19 treatment

Yaky Yanay Photo: Einat Levron

The funds will be used, among other things, for the Israeli company's Phase II study of PLX cell therapy in the treatment of complications arising from Covid-19.

Israeli stem cell developer Pluristem Therapeutics Ltd. (Nasdaq:PSTI; TASE: PSTI) announced today that it has entered into definitive agreements with two institutional investors in connection with a registered direct offering, providing for the issuance of an aggregate of 1,587,302 shares of its common stock at a price of $9.45 per share. The net proceeds from the offering are expected to be $15 million.

Pluristem is a regenerative medicine company developing a platform of novel biological therapeutic products. The company plans using the net proceeds from the offering for working capital, including funding towards its Phase II study of PLX cell therapy in the treatment of complications arising from Covid-19 and other clinical trial activities, investment in capital equipment and other general corporate purposes.

The offering is expected to close on or before May 7, 2020, subject to customary closing conditions.

Pluristem's CEO is Yaky Yanay.

Published by Globes, Israel business news - www.globes-online.com - on May 5, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yaky Yanay Photo: Einat Levron
Yaky Yanay Photo: Einat Levron
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018