Caladrius Biosciences Receives $1.4 Million of Non-Dilutive Capital Through New Jersey Technology Business Tax Certificate Tr...
May 12 2021 - 8:00AM
Caladrius Biosciences, Inc. (Nasdaq: CLBS) (“Caladrius” or the
“Company”), a clinical-stage biopharmaceutical company dedicated to
the development of cellular therapies designed to reverse disease,
today announced that it has received $1.4 million in non-dilutive
funding as an approved participant of the Technology Business Tax
Certificate Transfer Program (the “Program”) sponsored by the New
Jersey Economic Development Authority (NJEDA). The Program enables
qualifying New Jersey-based biotechnology or technology companies
to sell a percentage of their New Jersey net operating losses
(“NOLs”) and research and development tax credits to unrelated
qualifying corporations.
“We are extremely grateful to the NJEDA for their continued
support under this program, through which we have cumulatively
converted NOLs into more than $12 million of non-dilutive funding,”
stated David J. Mazzo, Ph.D., President and Chief Executive Officer
of Caladrius. “This additional capital combined with the $90
million we have raised in the public markets since the beginning of
2021 will, among other things, continue to support the advancement
and expansion of our CD34+ cell therapy pipeline.”
About Caladrius Biosciences
Caladrius Biosciences, Inc. is a clinical-stage
biopharmaceutical company dedicated to the development of cellular
therapies designed to reverse disease. We are developing
first-in-class cell therapy products based on the finely tuned
mechanisms for self-repair that exist in the human body. Our
technology leverages and enables these mechanisms in the form of
specific cells, using formulations and modes of delivery unique to
each medical indication.
The Company’s current product candidates include: CLBS16, the
subject of both a recently completed positive Phase 2a study and a
newly initiated Phase 2b study in the U.S. for the treatment of
coronary microvascular dysfunction (“CMD”); HONEDRA® (CLBS12),
recipient of orphan designation for Buerger’s disease in the U.S.
as well as SAKIGAKE designation and eligible for early conditional
approval in Japan for the treatment of critical limb ischemia
(“CLI”) and Buerger’s disease based on the results of an ongoing
clinical trial; CLBS201, designed to assess the safety and efficacy
of CD34+ cell therapy as a treatment for diabetic kidney disease;
and OLOGO™ (CLBS14), a Regenerative Medicine Advanced Therapy
(“RMAT”) designated therapy for which the Company is in discussion
with the FDA to finalize a Phase 3 protocol of appropriate and
practical size and scope for a confirmatory trial in subjects with
no-option refractory disabling angina (“NORDA”). For more
information on the Company, please visit www.caladrius.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management’s current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. All statements other than
statements of historical fact contained in this press release are
forward-looking statements including, without limitation, all
statements related to the completion of the private placement, the
satisfaction of customary closing conditions related to the private
placement and the intended use of net proceeds from the private
placement as well as any expectations of revenues, expenses, cash
flows, earnings or losses from operations, cash required to
maintain current and planned operations, capital or other financial
items; any statements of the plans, strategies and objectives of
management for future operations; market and other conditions; any
plans or expectations with respect to product research, development
and commercialization, including regulatory approvals; any other
statements of expectations, plans, intentions or beliefs; and any
statements of assumptions underlying any of the foregoing. Without
limiting the foregoing, the words “plan,” “project,” “forecast,”
“outlook,” “intend,” “may,” “will,” “expect,” “likely,” “believe,”
“could,” “anticipate,” “estimate,” “continue” or similar
expressions or other variations or comparable terminology are
intended to identify such forward-looking statements, although some
forward-looking statements are expressed differently. Factors that
could cause future results to differ materially from the recent
results or those projected in forward-looking statements include
the “Risk Factors” described in the Company’s Annual Report on Form
10-K filed with the Securities and Exchange Commission (“SEC”) on
February 25, 2021 and in the Company’s other periodic filings with
the SEC. The Company’s further development is highly dependent on,
among other things, future medical and research developments and
market acceptance, which are outside of its control. You are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date of this Press Release.
Caladrius does not intend, and disclaims any obligation, to update
or revise any forward-looking information contained in this Press
Release or with respect to the matters described herein, except as
required by law.
Contact:
Investors:Caladrius Biosciences, Inc.John MendittoVice
President, Investor Relations and Corporate
CommunicationsPhone: +1-908-842-0084Email: jmenditto@caladrius.com
Media: Real ChemistryKelly WakeleePhone: 610.639.2774Email:
kwakelee@realchemistry.com
Caladrius Biosciences (NASDAQ:CLBS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Caladrius Biosciences (NASDAQ:CLBS)
Historical Stock Chart
From Sep 2023 to Sep 2024