NexGel (NXGL) announced the closing of its previously announced license and acquisition of a portfolio of commercial-stage regenerative biomaterials products from Celularity (CELU), a regenerative and cellular medicine company. The Company has also launched BioNX Surgical, a new division of NEXGEL. The closing of this transaction will be financed under new terms and led by a $5.5 million strategic investment from Sequence LifeScience, a leader in regenerative medicine manufacturing. The transaction was financed through a convertible note with $0.60 conversion price and 50% warrant coverage with a strike price of $0.80.
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