Pluristem Therapeutics Inc. (Nasdaq:PSTI) (TASE:PSTI), a leading developer of placenta-based cell therapy products, has raised $17 million in a private placement offering of stocks and warrants.
The offering is expected to close around June 30, 2015, subject to customary closing conditions. The shares and warrants were offered pursuant to a shelf registration statement which was previously filed with, and declared effective by, the U.S. Securities and Exchange Commission. Maxim Group acted as agent for the offering.
Pluristem’s patented PLX (PLacental eXpanded) cells release a cocktail of therapeutic proteins in response to inflammation, ischemia, hematological disorders, and radiation damage. PLX cells are grown using the Company’s proprietary three-dimensional expansion technology and are an “off-the-shelf” product that requires no tissue matching prior to administration. Pluristem was founded in 2001 and is based in Haifa, Israel. The company has a Nasdaq market capitalization of $182.39 million.