Portland-based ImmuCell completes $9 million public offering

Portland-based biotech firm ImmuCell Corp. completed a $9 million public offering Friday, selling over 1.6 million additional shares to investors.

The publicly traded company, which develops animal health products for the dairy and beef industries, said it will use the money for expansion and to reduce debt. ImmuCell said it netted about $8.3 million from the offering after deducting fees and expenses.

The company intends to use a portion of the offering’s proceeds to expand production capacity for First Defense, a natural product that prevents scours, or diarrhea, in newborn calves. Read more

Related Posts

UMaine professor McGill receives top German research award

ORONO — University of Maine ecology professor Brian McGill was awarded the Humboldt Research Award, one of the most prestigious scientific...

20 July 2023

Four Maine workforce programs could get $6.5M in fed funding

Four workforce training programs in Maine could receive nearly $6.5 million in federal funding through the markup of the fiscal year 2024 financial...

18 July 2023

Music as medicine: FDA approves stroke damage therapy from Portland startup

Doctors may soon start writing an unconventional prescription to help stroke survivors regain their ability to walk: music. MedRhythms, a Portland...

14 July 2023