FibroBiologics, a clinical stage company developing fibroblast-based therapeutic cures for chronic diseases, has signed an agreement with GEM Global Yield LLC SCS (GEM), a private investment group, to provide FibroBiologics with up to $100 million over a 36-month term following a public listing of FibroBiologics common stock. 
 
FibroBiologics will control the timing and maximum amount of the drawdown under this facility and has no minimum drawdown obligation. FibroBiologics will issue warrants to GEM to purchase, for a period of three years after a public listing of FibroBiologics common stock, up to 4% of the total equity interests of FibroBiologics. The funds will be used to continue development of its fibroblast-based cell therapy platform.
 
"This Agreement with GEM helps secure additional funding to further develop cell therapy cures in Multiple Sclerosis, Degenerative Disc Disease and Cancer using fibroblast cells," stated Pete O'Heeron, CEO and chairman of FibroBiologics. "This Agreement provides for a strong balance sheet upon public listing and positions FibroBiologics for the next stage of commercial development to deliver life-changing abatement for patients with incurable chronic diseases."