AIVITA Biomedical Raises $12.5 Million in Series B-2 Financing Round and Announces New Board of Directors Appointee

IRVINE, Calif., Feb. 25, 2020 AIVITA Biomedical, Inc., a biotechnology company (the “Company”) specializing in innovative stem cell applications, announced today the first closing of its $25 million Series B-2 preferred stock investment round. The first closing of $12.5 million was led by Matthew Katz, an entrepreneur and investor who has been appointed to AIVITA’s board of directors. The financing round also includes other healthcare-focused venture capital firms.

Matthew Katz is founder and CEO of Verifi, Inc., a customized software solution that systematically identifies payment risk. He is also the head of Zoo Station, his family office focused on investing in early stage startups. He has successfully founded and partnered several businesses and consulting firms and is a welcome addition to AIVITA’s board of directors.

“We are excited to welcome Matthew to our board of directors,” said Dr. Hans S. Keirstead, Chairman and CEO of AIVITA. “Matt brings deep experience in corporate development, operations and partnership strategy to AIVITA at a time when our programs are expanding and maturing.”

About AIVITA Biomedical

AIVITA Biomedical is a privately held company engaged in the advancement of commercial and clinical-stage programs utilizing curative and regenerative medicines. Founded in 2016 by pioneers in the stem cell industry, AIVITA Biomedical utilizes its expertise in stem cell growth and directed, high-purity differentiation to enable safe, efficient and economical manufacturing systems which support its therapeutic pipeline and commercial line of skin care products. All proceeds from the sale of AIVITA’s skin care products support the treatment of people with cancer.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and ability of the Company to consummate additional closings of its securities, its ability to negotiate and complete other debt and equity financing transactions and its future growth. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “plans,” “forecast,” and similar expressions, and reflect the Company’s expectations concerning the future. It is possible that the Company’s future results may differ materially from its current expectations or those expressed or implied in these forward-looking statements. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Legal Disclaimer

The Series B-2 preferred stock referenced in this press release have not been registered under the Securities Act of 1933, as amended (“Securities Act”) or the securities laws of any state or other jurisdiction, and may not be offered or sold without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.  This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sales would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.”

SOURCE AIVITA Biomedical, Inc.

Related Links

http://www.aivitabiomedical.com

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