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Recombinetics Closes $10 Million Stock Offering



11/14/2016 7:01:11 AM

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Recombinetics Oversubscribes $10 Million Financing Round for Common Stock; Engages Capitol Peak Asset Management

ST. PAUL, Minn.--()--Recombinetics (RCI), a St. Paul-based global biotechnology leader in precision gene-editing of animals for lifesaving human therapeutics and healthier, safer, more abundant food supplies announced the successful close of its recent $10 million common stock offering. The Company’s equity, offered at $5 per share, was oversubscribed by investors and closed at more than $11 million. To date, Recombinetics has raised over $24 million in private investments.

Recombinetics has engaged Capitol Peak Asset Management, LLC (“Capitol Peak”) to advise it on future capitalization and strategic transactions. Capitol Peak is a trusted partner to transformational companies and projects that solve global challenges, from agriculture and human health to critical infrastructure. An authority on finance and risk intelligence, Capitol Peak is also the manager of the $10 Billion Rural Infrastructure Opportunity Fund, a public/private partnership involving USDA and CoBank.

“Recombinetics is a recognized leader in the development and deployment of gene-editing technologies to advance human health and animal welfare. Capitol Peak is thrilled and privileged to be RCI’s advisor and partner as the company continues to commercialize transformative gene-editing capabilities across biomedicine, regenerative medicine and agriculture. Amazing things happen when world-class scientists, experienced executives, and an ecosystem of leading hospitals, companies and agricultural producers work together for a common good,” said Leo M. Tilman, executive chairman of Capitol Peak.

Recombinetics’ global patent portfolio includes 11 issued patents and more than 150 additional applications filed – with first use and enabling patents for livestock for both CRISPR and TALENs. Other key accomplishments include:

  • The world’s first sale of gene-edited pig models to a globally recognized medical clinic for use in human cardiac therapeutics testing;
  • Global rights for TALENs as a principal tool for gene-editing in large animals to facilitate human biomedical research, regenerative medicine, and enhanced animal welfare and food production;
  • Substantial intellectual property in advanced reproductive physiology.

About Recombinetics: Founded in 2008, Recombinetics (RCI) is the premier gene-editing company in livestock, with applications in therapeutic development and testing, and in animal breeding and care.

RCI develops precise swine models of patient congenital and progressive diseases, including neurodegenerative diseases, heart disease, diabetes, and cancer. The use of RCI’s proprietary pig models is facilitating more rapid commercialization of safe and effective drugs and medical devices, with lower costs.

RCI is also adding value to animal agriculture, accelerating the addition of genetically preferable traits that enhance productivity while improving animal health and welfare. Learn more at Recombinetics.com.

Contacts

Recombinetics
Tammy Lee Stanoch, 612-839-9175
Chief Corporate Affairs Officer
tammylee.stanoch@recombinetics.com


Read at BioSpace.com


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