Emmaus Life Sciences settles $7.5 million private placement of stock

T.R. Winston assisted in selling shares with warrants to fund research

By Devika Patel

Knoxville, Tenn., Sept. 16 - Emmaus Life Sciences, Inc. said it raised about $7.5 million in a private placement of stock and warrants. T.R. Winston & Co. was the agent.

Proceeds will be used primarily for research and development, including the company's phase 3 clinical trial for the treatment of sickle cell disease, commercialization costs, working capital and general corporate purposes.

The Torrance, Calif., private company develops treatments and therapies for rare diseases.

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