Capricor Therapeutics Inc (CAPR)

[CDut1]

Capricor Therapeutics Announces $10 Million Private Placement of Common Stock

Investors Include: Cedars-Sinai Medical Center, CureDuchenne Ventures LLC, Select Board Members and Capricor Management
Capricor Therapeutics
9 hours ago
GlobeNewswire

LOS ANGELES, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Capricor Therapeutics, Inc. (CAPR), a biotechnology company focused on developing novel therapeutics for the treatment of cardiovascular diseases, today announced that it has signed definitive agreements for the sale of approximately $10.0 million of the Company's common stock to select investors at a price of $3.52 per share. The placement agents for the financing were H.C. Wainwright & Co., LLC and SC&H Capital.

The common stock financing includes participation from Cedars-Sinai Medical Center, CureDuchenne Ventures LLC and several directors and officers of the Company. The net proceeds from the financing will be used primarily for working capital (including planned clinical trials) and general corporate purposes.

Dr. Linda Marban, Chief Executive Officer of the Company, commented, "This latest round of financing provides the growth capital necessary to continue building our clinical programs, which include CDCs (ALLSTAR and DYNAMIC) and Cenderitide (natriuretic peptide). This capital raise will also fuel a clinical development program in our recently announced program to treat Duchenne Muscular Dystrophy (DMD) associated cardiomyopathy with CDCs, which we hope to be in the clinic in 2015. Furthermore, the support of Cedars-Sinai Medical Center and CureDuchenne Ventures LLC as well as our Board members is a testimony to the promise of Capricor and the progress we have made to date. In the coming year, the Capricor team will remain focused on executing on our clinical strategy, strengthening our operational team, and working to develop additional strategic relationships with key partners."

Additionally, Dr. Linda Marban will present a Company update at the 7th Annual Biotech Showcase 2015 on Monday, January 12, 2015 at 10:30 a.m. PST in Mission II, 4th Floor at the Parc 55 Wyndham San Francisco -- Union Square.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, shares of common stock or other securities.

http://finance.yahoo.com/news/capricor-therapeutics-announces-10-million-142655228.html