Vericel prices $75M follow-on

Cell therapy developer Vericel Corp. (NASDAQ:VCEL) raised $74.8 million through the sale of 5 million shares at $13 in a follow-on underwritten by Leerink, BTIG and Ladenburg Thalmann. The figures include the sale of a 750,000 share overallotment on June 5.

Vericel markets two autologous cell therapies: MACI, which consists of cultured chondrocytes on a porcine collagen membrane implant, to treat cartilage defects of the knee; and Epicel, which comprises epidermal autografts consisting of human cells cultured with mouse fibroblasts and bovine serum, to treat severe burns...