Cytori Therapeutics closes $17m funding round

Cytori Therapeutics (NASDAQ:CYTX) said today it closed a $17.1 million rights offering round, floating 6.7 million units at $2.55 each. Through the rights offering, each of the 6.7 million units consisted of an equal amount of shares of common stock and 3.4 million warrants exercisable for 1 share of common stock at $3.06 per share, the company said. Maxim Group acted as the dealer-manager for the rights offering, according to a press release from the company Last September, Cytori said it appointed ex-Becton Dickinson Japanese president John Harris as its new veep and general manager of its cell therapy division. In July, San Diego, Calif.-based Kerastem Technologies, which owns the commercialization rights to Cytori’s Celution technology, said it won Investigative Device Exemption approval from the FDA to conduct a clinical trial of the Celution technology used to treat female and early male androgenic alopecia. The 70-patient phase II Style trial will follow-up on initial clinical work in Europe and Japan that the company used for IDE submission, the company said. The post Cytori Therapeutics closes $17m funding round appeared first on MassDevice.
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Cytori Therapeutics Source Type: news