Samumed With Financing To Progress With Sm04554

Tracksterderm

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SAN DIEGO – August 6, 2018 – Samumed, LLC, announced today that it has closed its A-6 Round of equity issuance with $438 million, bringing its total equity raised to date to more than $650 million. The pre-money valuation for the round was $12 billion.

“We appreciate the strong support from our investors,” said Osman Kibar, Ph.D., Chief Executive Officer of Samumed, “and we are now in a fortunate position to both move our later stage programs to commercialization, as well as expand on our earlier stage science and clinical portfolio.”

https://www.samumed.com/medium/image/samumed-closes-on-438-million-in-equity-financing_371/view.aspx
 

alibaba92

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Does it mean that they expected to raise 12 bil and now only got 650 mil ? Is it kind of dissappointment ?
Sorry for my poor knowledge
 

wc5269

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Does it mean that they expected to raise 12 bil and now only got 650 mil ? Is it kind of dissappointment ?
Sorry for my poor knowledge

No, that's how much the entire company was valued at before getting the 650 mil in investments.
 

kiwi666

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That should be enough to launch a product globally and then some :)
 
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