Global asset manager Fidelity International invested $5.2 million in Cynata Therapeutics, an Australian stem cell and regenerative medicine company, Business Insider Australia reports.
Here are three things to know.
1. This brings Fidelity's holdings in Cynata to about 10 percent.
2. Fidelity will get 4 million shares at $1.28 each, a 4.5 percent premium to Cynata's closing price May 25.
3. Cynata's proprietary Cymerus stem cell platform technology enables the company to manufacture mesenchymal stem cells on a commercial scale.
More articles on biologics:
The global spine biologics market to grow at CAGR of 4.1% through 2022: 3 things to know
DiscGenics treats 1st patient in degenerative disc disease clinical trial: 5 things to know