Celularity Raises USD 12.2M Through Sale Of New Jersey Tax Assets

Celularity Inc., a Nasdaq-listed regenerative medicine company focused on longevity and aging-related diseases, has secured USD 12.2 million in net cash proceeds through the sale of unused New Jersey tax assets. The transaction involved approximately USD 126.3 million in state net operating losses (NOLs) and USD 1.9 million in research and development tax credits.

The sale was completed under New Jersey’s Technology Business Tax Certificate Transfer Program, which allows eligible life sciences and technology companies in the state to monetize unused tax benefits by transferring them to profitable firms seeking to offset taxable income. The initiative is administered by the New Jersey Economic Development Authority (NJEDA), which supports economic development across the state.

"The funds Celularity received under this program provide non-dilutive, tax-free capital that strengthens our balance sheet and enhances liquidity as well as supports disciplined capital allocation to commercial opportunities for our GMP-level stem cell and other cell therapies and regenerative medicine programs, all targeting longevity and the preservation of human performance," said Robert J. Hariri, M.D., Ph.D., Chairman and Chief Executive Officer of Celularity. "We are grateful to the New Jersey Economic Development Authority (NJEDA) for their assistance in administering this valuable program supporting technology companies like Celularity," added Dr. Hariri.

Celularity is developing advanced biomaterials along with allogeneic and autologous cell therapies derived from postpartum placental tissue. The company aims to leverage the placenta’s distinctive biological properties and availability to create treatments for major unmet medical needs, particularly those linked to aging processes such as cellular senescence, chronic inflammation, and tissue degeneration.