Cytori Raises $10 Million

Bruce V. Bigelow3/16/09

Cytori Therapeutics (NASADQ: CYTX) says it has closed on a deal to raise almost $10 million for the San Diego life sciences company through a private placement that includes common stock and warrants. The company raised $15 million through debt financing in October. Cytori says the funds will be used to commercialize its technology for banking patients’ adult stem cells derived from fat tissue, continued development of its stem cell technology for use in breast reconstruction and cardiovascular disease, ongoing research and development, and for general working capital.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788