FibroBiologics Secures $100 Million to Support Cell Therapy

FibroBiologics signed an agreement with GEM Global, a private investment group, to provide FibroBiologics with up to $100 million over a 36-month term following a public listing of FibroBiologics common stock.

FibroBiologics is a regenerative medicine company developing a solution for chronic disease treatment using fibroblast cells. Currently, FibroBiologics holds 150+ U.S. and international issued patents/patents pending across a variety of clinical pathways, including disc degeneration and orthopedics.

FibroBiologics will control the timing and maximum amount of the drawdown under this facility and has no minimum drawdown obligation. FibroBiologics will issue warrants to GEM to purchase, for a period of three years after a public listing of FibroBiologics common stock, up to 4% of the total equity interests of FibroBiologics. The funds will be used to continue development of its fibroblast-based cell therapy platform.

Source: FibroBiologics