NuGene International Inc (OTCBB:NUGN) has been making quite a lot of progress in its business to become one of the most wanted stock in the market. The company recently announced filing of three additional patents for scar, burn and wound healing bandages and aids. Additionally, the company also filed a form D, regarding its fundraising efforts that resulted in $140,000. The reason for the financing is still to be known.
NuGene is a company that focuses on cosmeceutical and pharmaceutical products. Just about all of these products are proprietary and are based on adipose derived human stem cells. The regenerative medicine industry has been valued at $7.2 billion. The company’s new bandages and aids are based on the same research. The CEO of NuGene, Ali Kharazmi, stated that his team of scientists is working on different ways the patent pending technologies can be used for regenerative medicine.
Adipose human stem cells are present throughout a person’s body, in fatty tissues. They regenerate by splitting themselves in order to regenerate tissues and replace dying cells. NuGene extracts these cells from fat cells to use them as the foundation of its proprietary products. NuGene also holds the rights to its innovative nano-capsulation technologies, which meet the requirement of effective delivery to the skin.
The company also announced $140,000 in financing, through an international offering. NuGene was able to successfully sell 100% of international offering amount, compared to the conventional 68.6%. The offering has not only added to the company’s working capital, but also shows that international investors trust in the company. However, it should be kept in mind that the offering was only a small fraction of the conventional amount for such an offering. Additionally, NuGene, in its last quarter, had reported $481,000 in sales and $83,000 in investments. The company also generated all revenues from its product sales alone, which seems to have caught investor interest.
NuGene International Inc (OTCBB:NUGN) closed at $3.02, after gaining 3.04% on May 20. The company has 39.58 million shares being traded in the market, with a 52-week range of $0.01-$5.