US-based small-molecule drug provider Frequency Therapeutics has completed a series A financing round to raise $32m in order to support expanded work to realise the disease-modifying potential of progenitor cell activation (PCA) beyond hearing loss.
Canadian-based medical marijuana provider Emerald Health Therapeutics intends to raise C$17.5m ($13.22m) from an underwritten public offering of units comprising one common share of the company and one-half common share purchase warrant.
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The offering includes 9.46 million units priced at C$1.85 ($1.32) a unit.
Underwriters will be granted an option to purchase up to an additional 1.4 million units within 30 days of closure of the offering, in case of over-allotment, if any.
The proceeds will be invested to accelerate the expansion of the company’s facility, as well as for working capital and general corporate purposes.
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Holders of the warrants will be entitled to purchase shares of the company at a price of C$2.6 ($1.94) a share for 24 months following the closure of the offering.
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By GlobalDataChina Resources Development Group will develop and market Immune System Regulation Holding’s (ISR) drug candidates in HIV / AIDS in China, under a partnership agreement signed between the two.
ISR is a research company focused on immunotherapy, while China Resources Development Group is a conglomerate company.
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The proceeds are intended to repay all outstanding loans of the company and fulfil other obligations under its existing credit facilities.
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