Wednesday March 31, 2021 0 comments
DENVER -- Greyledge Technologies, Inc. announced it has entered into a securities purchase agreement for a $2.5 million convertible loan by a lender that is a wholly owned subsidiary of a publicly-traded company in connection with issued warrants for Series A Common Stock from Greyledge.
Greyledge is a biotech and emerging growth company specializing in cell therapeutics produced from a patient’s own blood or bone marrow tissue. Greyledge is dedicated to maximizing product quality, safety, and reliability in a manner compliant with Federal regulations.
The company has refined its scientific technology, and since 2017, has been driven to achieve sustained profitability and scalability. Greyledge currently operates in 4 states with 10 cell processing facilities.
Founder and CEO Dr. David Karli continues to position the company to maintain its unique technology platform by advancing biologic sample analytics and quality measures and developing protocols that allow for enhanced research and future customization of patient biologic preparations.
This latest financing will be used to maximize revenue growth, advance data acquisition capabilities, and broadly expand Greyledge’s cell processing facilities, providing physicians and surgeons with biologic products to support pain control and augmented tissue healing.
In consideration for their investment, the unidentified lender will appoint two members to Greyledge’s board of directors.
“With their experience and track record in developing early-phase tech companies, the parent organization of our lender is a strong partner to assist Greyledge in scaling production of our cell therapeutic facilities along with our novel data integration platform to further enhance our ability to optimize applications and the clinical effectiveness of our cell therapy products to an expanding market,” said Karli.
“Our goal is to create a new gold standard for production and application of patient-derived cellular therapeutics.”