Aldagen, a Durham-based biopharmaceutical company, has registered with the Securities and Exchange Commission for its first public stock offering to pay for clinical development of its four product candidates.
The firm uses a proprietary system involving stem cells for developing improved therapies for unmet medical needs. Its most advanced product candidate, ALD-101, is in a Phase 3 clinical trial to determine its effectiveness in improving umbilical cord blood transplants to treat inherited metabolic diseases in children.
The company, founded in 2000, also is working on umbilical cord blood transplants to treat leukemia, heart failure and blood-flow problems to the limbs.
Aldagen has not disclosed a price or share total for its initial stock offering.