Shock! Biotech raises money
Monday, 30 March, 2009
Melbourne stem cell company Mesoblast has raised $10.81 million through a private placement to existing as well as new and institutional investors.
The money will be used to further the company’s clinical trial programs, including its bone and cartilage regenerative products.
Mesoblast said the placement of 15.02 million shares was oversubscribed.
The money will come as a boost to the company’s cash reserves, which were $9.6 million as at December 31, 2008.
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