Lattice Biologics closed a private placement for gross proceeds of up to US $0.75MM. Proceeds will fund M&A and the acquisition of amnion donors to support production of an amniotic fluid product for regenerative use.
The novel regenerative therapeutic will target osteoarthritis, spine, sports-medicine, foot/ankle and other indications. The product is projected to represent a significant increase in Lattice Biologics' annual revenue in 2017.
Further, Lattice Biologics has identified a biotech start-up for acquisition which could bring controlling and blocking patents to further entry into the amnion market.
Source: Lattice Biologics Ltd.