Date: 2014-12-01
Type of information: Private placement
Company: Medgenics (Israel - USA)
Investors:
Amount: $24.2 million
Funding type: private placement
Planned used: Net proceeds will be used for the following purposes: clinical development of TARGTEPO™ for three renal anemiaand two hematological indications, clinical development of TARGTGLP-2™ for short bowel syndrome, research and development activities with Children\'s Hospital of Philadelphia under the recently announced collaboration agreement, advancement of additional preclinical programs, and general corporate purposes.
Others: * On December 1, 2014, Medgenics, the developer of a proprietary platform for the sustained production and delivery of therapeutic proteins and peptides in patients using ex vivo gene therapy and the patient's own tissue for the treatment of rare and orphan diseases, announced the completion of an underwritten public offering of 5,893,750 shares of its common stock, including 768,750 shares sold pursuant to the full exercise of an option previously granted to the underwriters to purchase additional shares of common stock. All of the shares were offered by Medgenics at a price to the public of $4.10 per share. The gross proceeds from this offering to Medgenics were approximately $24.2 million, before deducting underwriting discounts and commissions and offering expenses payable by Medgenics. This offering was made by means of a prospectus supplement and related prospectus. * On November 25, 2014, Medgenics announced the pricing of 5,125,000 shares of its common stock in a previously announced underwritten public offering at a price to the public of $4.10 per share. In connection with the offering, Medgenics has also granted the underwriters a 30-day option to purchase up to an additional 768,750 shares of its common stock. Gross proceeds to Medgenics from the sale of shares are expected to be approximately $21.0 million, excluding any exercise of the underwriters' option to purchase additional shares of common stock. If the underwriters' option is exercised in full, gross proceeds will be $24.2 million. The offering is expected to close on or about December 1, 2014 subject to customary closing conditions. * On November 24, 2014, Medgenics announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. As part of this proposed offering, Medgenics intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered to the public. Piper Jaffray & Co. is acting as sole book-running manager for the proposed offering. All of the shares to be sold in the proposed offering are being sold by Medgenics.
Therapeutic area: Genetic diseases - Pediatric diseases - Rare diseases
