VistaGen restructures MoFo debt, investor buys notes

VistaGen Therapeutics Inc. restructured nearly $2.4 million of long-term debt with law firm Morrison & Foerster LLP as an investor bought a $750,000 note from the South San Francisco biotech company. VistaGen (OTCBB: VSTA), which is developing ways to incorporate human stem cells into research lab tests that can predict a drug's toxicity or help with drug discovery, said about $1.38 million of the debt to Morrison & Foerster is expected to be converted into restricted common stock at a price of $1 per share. It did not say how the remaining $1 million in debt would be restructured.

VistaGen investor cancels $4M note, warrants for preferred shares

Stem cell drug development company VistaGen Therapeutics Inc. worked out a deal with a key investor to avoid a $4 million debt repayment due later this year.
South San Francisco-based VistaGen (NASDAQ: VSTA) said Platinum Long Term Growth VII LLC agreed to retire a $4 million convertible bridge note, payable June 30, and warrants to buy nearly 1.6 million shares of VistaGen common stock. In exchange, Platinum received 391,075 shares of newly created Series A preferred stock on Dec. 29.

Stem cells heading somewhere in a gift basket

A reverse merger between VistaGen Therapeutics and Excalibur Enterprises slaps a bow on a Jekyll-and-Hyde month for the stem cell industry. Who is Excalibur? Another stem cell company? A group of Arthurian-minded investors expecting to pull stem cells from the Wall Street stone? None of the above.