Hemostemix nets $4.4 mln in debt funding, aims for $8 mln more
Blackfalds, Alberta biotechnology company Hemostemix Inc (TSX-V: HEM) has agreed to receive $4.4 million in senior debt funding from Wood Capital, a Barbados private equity firm. As part of its agreement with Wood, the company is contemplating additional financing of up to $8 million. Both transactions may entail conversion privileges. Hemostemix is focused on developing and commercializing blood-derived cell therapies to treat ischemic diseases. It will use the funds raised to consolidate its current debt, rebuild its team, support the Phase 2 trial of its lead therapy candidate, and leverage "larger, more sustainable financing."
10 April 2017•10 mins read
