- NervGen Pharma (NGEN) has closed a non-brokered private placement for gross proceeds of US$15,225,000
- The company issued 10,150,000 units at US$1.50 per unit
- PFP Biosciences invested $15,000,000 of the total proceeds
- Net proceeds will be used for the continued development of their lead drug candidate, NVG-291, and general corporate purposes
- NervGen is a biotech company dedicated to creating treatments for nerve damage and neurodegenerative diseases
- NervGen Pharma Corp. (NGEN) opened trading at C$2.02
NervGen Pharma (NGEN) has closed its previously announced non-brokered private placement for gross proceeds of US$15,225,000.
The company issued 10,150,000units at US$1.50 per unit. Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one additional share at a price of US$1.75 until July 13, 2027. All of the securities issued are subject to a four month hold period.
Bill Radvak, Executive Chairman of NervGen Pharma, commented on the capital raise.
“I want to take this opportunity to thank these investors, in particular our new investor PFP Biosciences which invested $15,000,000 of the total proceeds, for providing NervGen with funds for the continued development of our lead drug candidate, NVG-291, including the ongoing Phase 1 clinical trial and preparations for upcoming Phase 2 trials for Alzheimer’s disease, spinal cord injury and multiple sclerosis.”
Net proceeds will be used for the continued development of their lead drug candidate, NVG-291, and general corporate purposes. NervGen is a biotech company dedicated to creating treatments for nerve damage and neurodegenerative diseases.
NervGen Pharma Corp. (NGEN) opened trading at C$2.02.
