Date: 2014-07-31
Type of information: IPO
Company: Macrocure (Israel)
Investors:
Amount: $ 54 million (€ 40.3 million)
Funding type: IPO
Planned used: Macrocure has developed CureXcell™, a cell based therapy for hard-to-heal wounds, to restore the wound healing process. This cell suspension contains a white blood cell mixture that, when applied to the wound, restores the natural balance required for the wound healing process. The white blood cells are derived from a whole blood unit taken from healthy young (18-40 yrs old) donors. These cells are activated by a proprietary technique, and are subsequently applied locally to the wound. CureXcell has been approved as a medical device in Israel and has been utilized in more than 5,000 patients in commercial or clinical study settings with consistent results. A phase-IV study of adult patients with chronic wounds (diabetic foot ulcers, pressure ulcers, venous ulcers, post-operative ulcers) has been conducted in seven community wound care clinics in the largest HMO in Israel and enrolled 131 patients. The objective of the study was to determine optimum procedures for use of CureXcell® in the typical Israeli community healthcare setting with a primary endpoint of full wound closure within 24 weeks. The results showed approximately 70% of the wounds were closed within 24 weeks. Additionally, the conclusion of the study was that CureXcell® appears to be both safe and effective in healing chronic wounds. The funds will be used to complete phase 3 trials in diabetic foot ulcers and venous leg ulcers.
Others: J* On July 31, 2014, Macrocure, a regenerative medicine company focused on cell therapy products for the treatment of chronic and other hard-to-heal wounds, such as diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs), has raised $ 54 million (€ 40.3 million) in its Nasdaq initial public offering (IPO). The 5.4 million ordinary shares were priced at $10.00 per share. The shares are traeed under the symbol \"MCUR.\" The offering is expected to close on or about August 5, 2014 subject to the satisfaction of customary closing conditions. Credit Suisse Securities (USA) LLC and Jefferies LLC are acting as joint book-running managers for the offering. Nomura Securities International, Inc. and Oppenheimer & Co. Inc. are acting as co-managers.
Therapeutic area: Regenerative medicine
