PR93088

HOUSTON, Nov. 17, 2021 /PRNewswire=KYODO JBN/ --

-- The Company plans to go public via SPAC, reverse merger, or a direct listing

FibroBiologics, a clinical stage company developing fibroblast-based

therapeutic cures for chronic diseases, announced today that it has signed an

agreement with GEM Global Yield LLC SCS (GEM), a private investment group, with

offices in New York and Paris, to provide FibroBiologics with up to $100

million USD 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.

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"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."

About FibroBiologics

Based in Houston, Texas, FibroBiologics is a regenerative medicine company

developing an innovative solution for chronic disease treatment using

fibroblast cells. Currently, FibroBiologics holds 150+ U.S. and International

issued patents/patents pending across a variety of clinical pathways, including

Disc Degeneration, Orthopedics, Multiple Sclerosis, and Cancer. FibroBiologics

represents the next generation of medical advancement in cell therapy.  Visit

www.FibroBiologics.com

About GEM

Global Emerging Markets ("GEM") is a $3.4 billion, alternative investment group

with offices in Paris, New York and Nassau, Bahamas. GEM manages a diverse set

of investment vehicles focused on emerging markets and has completed over 480

transactions in 70 countries. Each investment vehicle has a different degree of

operational control, risk-adjusted return, and liquidity profile. The family of

funds and investment vehicles provide GEM and its partners with exposure to:

Small-Mid Cap Management Buyouts, Private Investments in Public Equities and

select venture investments. For more information: http://www.gemny.com

Media Contact: info@fibrobiologics.com

SOURCE: FibroBiologics