Stem Cell Therapeutics raises $33M in private placement

|By:, SA News Editor

Stem Cell Therapeutics (SCTPF) raises $33M in gross proceeds through a private placement of 157.1M in common and preferred units (each with a 3/4 warrant to purchase an additional common share at $0.28) at a price of $0.21/unit.

The round was led by a "prominent U.S. healthcare fund," with participation from 7 other funds.

Funds will be used for IND-enabling studies, manufacturing, and phase I clinical trials of the company's CD47 cancer stem cell program.