Regenerative cell therapeutics company Sernova has completed the second tranche of its private placement with Evotec SE worth $6.8 million.
The private placement works out to 2.7 million shares at $2.50 per share. Following the completion of this second investment, Evotec's total investment in Sernova is $27 million, according to a Sept. 1 Sernova news release.
Sernova will use the latest funding for general working capital and to continue work on drugs to treat diabetes, hypothyroidism and hemophilia A.