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NeoStem settles $1.75 million private placement
By Sheri Kasprzak
New York, Sept. 6 - NeoStem, Inc. concluded a private placement for $1.75 million.
The terms of the offering could not be determined by press time Wednesday.
The offering is the second financing the company has completed within the past three months. On June 12, the company settled a $2,079,000 financing with DC Associates, LLC.
NeoStem had previously operated under the name Phase III Medical, Inc.
The funds raised from the two financings will be used to develop the company's intellectual property.
New York-based NeoStem develops technologies that allow adults to have their stem cells collected and banked for future use.
On Wednesday, the company's stock slipped by 7.14%, or 5 cents, to end at $0.65 (OTCBB: NEOI).
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