A Melville biotechnology company plans to raise up to $15 million in an offering of common stock and other securities and apply to move trading from the OTC Markets Groups to the Nasdaq Capital Market, according to a government filing.
BioRestorative Therapies, Inc. is developing a stem-cell therapy in which patients with bulging discs related to degenerative disc disease receive an injection as an alternative to surgery. The stem cells are collected from the patient’s bone marrow and processed before being injected into a damaged disc. In February, the Food and Drug Administration cleared the company to begin a Phase 2 clinical trial.
The company, which has raised about $23 million in equity and debt financing over the past five years, according to…
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