NeoStem announces $20 million term loan financing from Oxford Finance LLC
For Immediate Release
September 29, 2014
SAN DIEGO, CA – WBB Securities acted as financial advisor to NeoStem, Inc. in a term loan financing with Oxford Finance LLC that was announced today. NeoStem expects to receive up to $20 million in non-dilutive financing through the instrument. An initial disbursement of $15 million has been made by Oxford to NeoStem with an additional $5 million disbursement available in the event of NeoStem’s consummation of a partnering transaction around its NBS10 development program for post acute myocardial infarction (AMI) patients. The loan is set to mature in September 2018. NeoStem intends to use the net proceeds from the loan for its future working capital needs, including the development of its cell therapy product candidates in late phase clinical trials.
About WBB Securities
WBB Securities is a leading investment management, investment banking, and equity research firm. Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities. WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients. The firm also maintains an investment banking and equity research practice focused exclusively in the life sciences niche. www.wbbsec.com
About NeoStem, Inc.
NeoStem is a leader in the emerging cellular therapy industry, pursuing the preservation and enhancement of human health globally through the development of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. The business includes the development of novel proprietary cell therapy products as well as a revenue-generating contract development and manufacturing service business. This combination has created an organization with unique capabilities for cost effective in-house product development and immediate revenue and cash flow generation. www.neostem.com