Private placement at LifeCell

LifeCell Corp, a US firm which claims to be "a leader in the emergingfield of regenerative medicine," engaged in developing and marketing biologic solutions for the repair, replacement and preservation of human tissue, says it has concluded a private placement with selected accredited institutional investors of just over 3.1 million shares. Net proceeds from the offering should be around $6.0 million, which the firm says will be used to continue development programs, expand sales and marketing of its current products and help finance potential acquisitions.

LifeCell's core technology removes all cells from tissue and preserves it "without damaging the essential biochemical and structural components necessary for normal tissue regeneration," the company said. It currently markets three human-tissue products based on the technology, including Repliform for urology and gynecology procedures, which is sold by Boston Scientific Corp.