Cellect Biotechnology and Quoin Pharmaceuticals Announce Strategic Merger
Up to $25 million of funding at $75 million pre-money valuation to be available to the combined company concurrently with the merger
Cellect shareholders to retain 25% of the combined Company pre-funding
Quoin has secured $25 million in committed equity funding from Altium Capital, a highly regarded institutional healthcare investor.
Quoin has also negotiated an $18.5 million venture loan from a leading U.S. commercial bank.
Completion of the merger is subject to approval of the Cellect and Quoin shareholders and certain other conditions and is expected to close by the end of the second quarter of 2021.
Up to $25 million of funding at $75 million pre-money valuation to be available to the combined company concurrently with the merger
Cellect shareholders to retain 25% of the combined Company pre-funding
Quoin has secured $25 million in committed equity funding from Altium Capital, a highly regarded institutional healthcare investor.
Quoin has also negotiated an $18.5 million venture loan from a leading U.S. commercial bank.
Completion of the merger is subject to approval of the Cellect and Quoin shareholders and certain other conditions and is expected to close by the end of the second quarter of 2021.