Fibrocell Science Inc. (OTC: FCSC) has initiated a private stock sale in order to raise $45 million. The sale is restricted to institutional investors and high-net-worth individuals. The company has also formed a partnership with Intrexon Corp., a Blacksburg, Virginia-based synthetic biology company, to further develop its laViv cell therapy technology.
The Exton, Pa., company said the private stock sale involves a select group of institutional investors and high-net-worth individuals, including NRM VII Holdings, a Third Security affiliated fund.
Fibrocell’s laViv launched in 2011 to remove wrinkles. It extracts and multiplies a patient’s collagen-producing cells, then re-injects those cells into the patient. To date, laViv is the only FDA-approved cell therapy technology in aesthetic dermatology. Read more here.
In a video about laViv’s FDA approval, CEO of Fibrocell Science Inc. David Pernock says,
“Our FDA approval meant the world to our company. What we’re able to do with this support … is offer people a very natural way to correct their nasolabial folds - smile line wrinkles - and not use any synthetic products or mass-produced products—ours is 100 percent made for the patient, specifically for you. It’s a big deal for the company and a big deal for the patients.”
See the full video below.