NXGL News & Events

NexGel (NXGL) announced the appointment of Ian Blackman as CFO. Blackman will help to advance the closing of the definitive agreement to license and acquire a portfolio of commercial-stage regenerative biomaterial products from Celularity (CELU). Most recently, Blackman served as CFO of McIntosh Group.

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.

NexGel (NXGL) announced the consideration terms of its previously announced agreement to license and acquire a portfolio of commercial-stage regenerative biomaterial products from Celularity (CELU), a regenerative and cellular medicine company. Consideration for the portfolio will include a $15 million upfront cash payment and potentially an additional $20 million in milestone payments based on various annual net sales targets related to the portfolio. The transaction represents the most significant milestone in the Company's history and is expected to approximately triple NEXGEL's revenue base and expected to make the Company profitable immediately upon closing.