Israeli regenerative medicine company Regentis BioMaterials (RGBM) has filed for a proposed $15M initial public offering.
In its filing, Regentis said that it was looking to offer around $15M in units that would consist of shares and warrants. The company hopes to list its shares on Nasdaq. Maxim Group is serving as sole bookrunner.
The company first filed for an IPO in November, with an attached filing fee schedule indicating it was seeking to raise up to $36M, including the exercise of warrants.
Based in Or-Akiva, Israel, Regentis has developer a degradable hydrogel called GelrinC to treat painful injuries to articular knee cartilage. The company plans to seek strategic partners in Europe, where GenlrinC received market approval as a medical device in 2017. Regentis is also running clinical trials to support FDA approval.
The medical device developer is currently operating in the red. For the six-month period ended June 30, Regentis reported a net loss of $438K and no revenue.
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Image and article originally from seekingalpha.com. Read the original article here.