As announced to the ASX this week, Neuren will raise $20 million via international and Australian institutional investors. It also intends to offer existing eligible shareholders in Australia and New Zealand, a share purchase plan of up to $2 million. The funds will be used to accelerate and support the ongoing development of its drugs treating neurological disorders in children.
Corporate partner Jason van Grieken and lawyer Ryan Taylor advised Neuren on all aspects of the capital raising. Jason van Grieken commented on the firm’s involvement: “It has been great to work with the Neuren team on their latest capital raising. We look forward to seeing the ongoing development of their product range and the growth of the business.”
In the ASX announcement, Neuren non-executive chair, Patrick Davies said: “We are highly encouraged to have received such strong support from existing and new investors for the Placement, which enables Neuren to accelerate the delivery of substantial value for all shareholders.”
In 2018, Arnold Bloch Leibler advised Neuren in relation to its exclusive North American licence with ACADIA Pharmaceuticals Inc.
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