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HomeFinTechArovella Therapeutics: Raises $6m for cell therapies

Arovella Therapeutics: Raises $6m for cell therapies

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Arovella Therapeutics Raises $6m for cell therapies

  • Arovella Therapeutics (ALA) receives commitments from institutional and sophisticated investors to raise $4.57 million through a placement
  • Importantly, the healthcare stock received cornerstone support from life sciences company Merchant who’s subscribing for $3 million worth of shares
  • ALA is also launching a $1.5 million share purchase plan which is completely underwritten by Baker Young with Merchant committing to sub-underwrite up to $750,000 of the SPP
  • The money is being used to develop Arovell a’s cell therapy platforms for cancer treatment
  • Company shares have ended the day up 5.13 per cent to close at 4.1 cents

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