Aldagen Secures $18.4 Million in Financing
DURHAM, NC--(Marketwire - April 23, 2008) - Aldagen, Inc. today announced it has raised $18.4 million in a private round of financing. The financing was obtained from existing investors, including Intersouth Partners, Tullis-Dickerson, Harbert Venture Partners and The Aurora Funds. The company plans to use the proceeds raised in this financing to further advance the development of its four clinical-stage product candidates and for general corporate purposes.
About Aldagen, Inc.
Aldagen is a biopharmaceutical company developing proprietary regenerative cell therapies that target significant unmet medical needs. The company has four product candidates in clinical trials. Aldagen's most advanced product candidate, ALD-101, is currently in a pivotal Phase III clinical trial to evaluate its effectiveness in improving cord blood transplants used to treat inherited metabolic diseases in pediatric patients. The company also is conducting Phase I/II clinical trials on three product candidates: ALD 151 to improve cord blood transplants in the treatment of leukemias, ALD-301 to treat critical limb ischemia, and ALD-201 to treat ischemic heart failure. Aldagen's product candidates consist of specific populations of active adult stem cells that the company isolates using its proprietary technology. To learn more about Aldagen, please visit www.aldagen.com