CAMBRIDGE, Mass., April 03, 2025 (GLOBE NEWSWIRE) — Ernexa Therapeutics (Nasdaq: ERNA), developing innovative cell therapies for the treatment of advanced cancer and autoimmune disease, today announced that it has entered into a securities purchase agreement with accredited investors for the private placement of approximately 69.3 million shares of common stock (or pre-funded warrants to purchase shares of common stock), at a purchase price of $0.1046 per share for an aggregate purchase price of approximately $7,250,000, assuming the Company receives stockholder approval.
“These are very exciting times at Ernexa, as we advance therapeutic innovation in cell therapy for the benefit of patients with cancer and autoimmune disease,” said Sanjeev Luther, President and CEO of Ernexa Therapeutics. “Our approach has been deliberate and strategic, from our investment round at the end of last year to our rebranding last month. With this latest round, we’re doubling down on our mission to advance our ovarian cancer program.”
The transaction will occur in two closings. The first closing occurred on April 2, 2025, when the company issued approximately 10.4 million shares of common stock or prefunded warrants and received approximately $1.1 million in gross proceeds. The second closing will occur upon satisfaction of customary closing conditions, including receipt of stockholder approval, which the Company expects to receive at its 2025 annual stockholders meeting, scheduled to be held on June 2, 2025.
This fundraise comes following a private investment in public equity (PIPE) investment that the company closed in 2024, securing a round of $5 million in financing. The company also more recently announced its name change to Ernexa Therapeutics to reflect its new strategic focus.
About Ernexa Therapeutics
Ernexa Therapeutics (Nasdaq: ERNA) is developing innovative cell therapies for the treatment of advanced solid tumors and autoimmune disease. Ernexa’s core technology focuses on engineering induced pluripotent stem cells (iPSCs) and transforming them into induced mesenchymal stem cells (iMSCs). Ernexa’s allogeneic synthetic iMSCs provide a scalable, off-the-shelf treatment solution, without needing patient-specific cell harvesting.
Ernexa is developing two highly innovative cell therapy products, both currently in preclinical stages. ERNA-101 is the company’s lead cell therapy product, designed to activate and regulate the immune system’s response to recognize and attack cancer cells. ERNA-102 is a cell therapy product designed to target inflammation and treat autoimmune disease. The company’s initial focus is to develop ERNA-101 for the treatment of ovarian cancer.
For more information, visit www.ernexatx.com.
