AcquisitionsMay 14, 2026, 05:33 PM
NexGel Acquires Celularity Portfolio; Raises $8.58M in Private Placement
AI Summary
NexGel, Inc. acquired Celularity Inc.'s regenerative biomaterials portfolio and development programs for $13.3 million, including $8.3 million cash and a $5 million convertible note. Concurrently, the company raised $8.585 million through private placements of convertible notes and warrants in April and May 2026. For Q1 2026, NexGel reported a net loss of $927,000 on $2.65 million in revenue, compared to a $712,000 net loss on $2.806 million revenue in Q1 2025. The company noted substantial doubt about its ability to continue as a going concern, with the new acquisition expected to improve liquidity.
Key Highlights
- Acquired Celularity's regenerative biomaterials portfolio for $13.3 million.
- Raised $8.585 million in private placements of convertible notes and warrants.
- Q1 2026 net loss attributable to stockholders was $(927)k, up from $(712)k YoY.
- Q1 2026 total revenue decreased to $2.65 million from $2.806 million YoY.
- Q1 2026 net cash used in operating activities was $(504)k, up from $(400)k YoY.
- Company noted substantial doubt about its ability to continue as a going concern.
- Restricted cash increased to $1.914 million as of March 31, 2026.