With a goal of helping revive patients suffering from rare diseases through its proprietary gene therapy technology, Wayne-based Medgenics could receive a reinvigorating shot of life itself through a public stock offering valued at $21 million or more, depending on the final sales of 5.1 million shares expected to close this week.
The infusion of funding comes on the heels of a $5 million research agreement with the Children’s Hospital of Philadelphia, according to a Philadelphia Business Journal report, and will be targeted at developing gene therapy treatments for patients who suffer from “chronic kidney disease, renal anemia, short bowel syndrome and other hematologic conditions,” the article stated.
Read more about the financial windfall and its implications for Medgenics’ pioneering technology in the Philadelphia Business Journal here.
