TEL AVIV, Israel, Feb. 1, 2018 /PRNewswire/ --
Summary of Highlights
- On January 29, 2018, Cellect
announced that it had entered into a securities purchase agreement
with certain institutional investors for gross proceeds of
approximately $4 million.
- The company will issue 484,848 registered American Depository
Shares (ADSs) at a purchase price of $8.25 per ADS in a
registered direct offering. Additionally, for each ADS
purchased, the investors will receive an unregistered warrant to
purchase 55% of an ADS.
Capital raising will support the company's clinical and
strategic goals
- Cellect continues with its ongoing trial of a stem cell
transplant procedure using its ApoGraft™ technology in Phase I/II
clinical trials for the prevention of GvHD in blood cancer
patients.
- To our understanding, raising capital at the market price and
raising it from institutional investors can attest to the
confidence placed in the company by its investors.
- Based on the capital raising, we estimate the company's value
at $104.2M (previous equity value was
$101.4M); price target unchanged and
ranges between $15.40 and
$18.70 a mean of $16.90.
About the Company
Cellect Biotechnology Ltd. (NASDAQ:APOP) (hereinafter "Cellect"
or "the company") focuses on the development of a technological
platform (the ApoGraft™) which selectively isolates stem cells
from a mixed population of cells based on their unique sensitivity
to apoptosis. The first product under development is the Apotainer
selection kit. The company is currently conducting a
proof-of-concept phase I/II clinical trial with leukemia patients
in Israel, which is expected to be
completed by the end of Q3 2018. Pending positive trial results and
ensuring sufficient information is gathered to support adequate
safety profiles, the company plans to integrate its technology
across a range of procedures that utilize stem cells. They can as
well use this platform for the manufacturing of adult stem cells.
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For further information, please contact:
Kristi Cekani
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
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http://www.frost.com
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