Stem Cell Therapeutics raises $33 mln to advance cancer stem cell discoveries

Stem Cell Therapeutics Corp (TSX-V: SSS), a Toronto-based immuno-oncology company developing cancer stem cell-related therapeutics, has obtained $33 million in private placement funding. The transaction was led by an unidentified U.S. healthcare fund, with participation from Special Situations Funds, Ridgeback Capital, Merlin Nexus, Sabby Capital, venBio, Opaleye Management and HSMR Advisors. Investment proceeds will be used to advance the company's CD47 cancer stem cell program through IND-enabling studies, manufacturing and phase 1 clinical trials. Stem Cell Therapeutics in Apr. 2013 acquired Trillium Therapeutics Inc, a Toronto-based biopharmaceuticals company that had been venture-backed since 1997.

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