Neuralstem raising $20M from Tianjin

Neuralstem Inc. (NASDAQ:CUR) is raising $20 million through the sale of shares and convertible stock in a private placement with Tianjin Pharmaceuticals Group Co. Ltd. (Tianjin, China). Neuralstem is selling 28.5 million shares at $0.253 and 1 million 4.5% preferred shares that are immediately convertible into 50.6 million shares at $0.253. Neuralstem had 114.8 million shares outstanding as of July 31.

In May, Neuralstem said it would reduce headcount across all divisions to focus on developing NSI-189 and pursuing partnerships for NSI-566. In 2H17, the company expects data from a Phase II trial of NSI-189, a small molecule benzylpiperizine aminiopyridine that stimulates neurogenesis, to treat major depressive disorder (MDD). NSI-566 comprises human neural stem cells (hNSCs) and has completed a Phase II trial to treat amyotrophic lateral sclerosis (ALS). ...