Serina Therapeutics Shares Rise After $10 Million in Financing

Dow Jones

2024-12-03

By Chris Wack

Serina Therapeutics shares were up 24% to $5.88 in premarket trading after the company said it secured $10 million in equity financing from strategic shareholder JuvVentures (UK) Limited.

The clinical-stage biotechnology company said the transaction provides it with funding to continue advancing its lead candidate SER-252 into a Phase 1 clinical trial in advanced Parkinson's disease patients in the second half of 2025.

Under the terms of the funding agreement, Serina will issue 1 million shares at $10 a share, a 120% premium to the closing price on Nov. 26.

The financing will be delivered in two tranches. The first tranche of $5 million was received Nov. 27, and the second $5 million tranche will be delivered by Jan. 31.

Serina's SER-252 is an investigational therapy developed for advanced Parkinson's patients.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 03, 2024 06:44 ET (11:44 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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