- MYND Life Sciences (MYND) has entered into a non-brokered private placement offering of debenture units with an institutional investor
- The company will issue up to $3,000,000 of debenture units
- The funding will enable the company to accelerate the commercialization of its diagnostic biomarker division
- The company’s mission is to develop a pharmaceutical treatment for depression utilizing compounds found in psychedelics
- MYND Life Sciences Inc. (MYND) opened trading at C$0.90 per share
MYND Life Sciences (MYND) entered into a non-brokered private placement offering of debenture units with an institutional investor.
The company will issue up to $3,000,000 of debenture units.
MYND Life Sciences CEO, Dr. Lyle Oberg commented on the impact of the financing.
“We are incredibly pleased to add a strategic institutional investor, who has been very active in deploying capital in novel psychedelic drug development companies, to participate in this round of financing, joining our broader investor base in advancing our novel drug discovery platform.
This capital will enable the company to accelerate the commercialization of its diagnostic biomarker division in addition to helping advance MYND’s various clinical trials which are expected to commence in Q4 of this year”.
The company will use the proceeds of the offering to advance its novel drug discovery platform and to commercialize its diagnostic business unit.
MYND Life Sciences is advancing medicines based on neuro-anti-inflammatory substances through rigorous science with an initial focus on major depressive disorder. The company’s mission is to further research linking depression and inflammation at the genetic and cellular level to develop a pharmaceutical treatment utilizing compounds found in psychedelics.
MYND Life Sciences Inc. (MYND) opened trading at C$0.90 per share.