June 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Neuralstem, Inc. (AMEX: CUR) said that it has entered into definitive agreements to sell $10 million of units at $2.80 per unit in a registered-direct offering to institutional investors. The units consist of one share of common stock, and 3/4 common stock purchase warrant.  The warrants have an exercise price of $3.25 and a term of three years.

Neuralstem will receive gross proceeds of $10 million before deducting placement agent fees and other offering expenses. The offering is scheduled to close on June 29, 2010, subject to customary closing conditions.

Neuralstem plans to use the net proceeds from the offering for working capital and general corporate purposes.

Maryland-based Neuralstem has a patented technology that claims the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells into mature, physiologically relevant human neurons and glia.

The company is targeting major central nervous system diseases. The company is in a Phase I clinical trial to treat ALS.  For more information, please go to www.neuralstem.com.

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