Emyria provides unique combination of drug development and therapy delivery
September 07, 2023 at 03:21 pm EDT
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Emyria Ltd (ASX:EMD) MD Michael Winlo speaks with Proactive after announcing the company has received strong support for its recent placement, securing firm commitments from new and sophisticated investors to raise $2 million (before costs). Alongside the oversubscribed placement, Emyria is also undertaking an entitlement offer to raise around $3.1 million at the same terms. Emyria intends to use the funds raised from the placement and entitlement offer to support its strategic objectives in mental healthcare, particularly in new drug development and in addressing the needs of the estimated 400,000 Australians impacted by severe PTSD.
Winlo said, "We're thrilled by the strong support for our recent placement, particularly from our long-term investors. We're equally excited to extend the same investment terms to our shareholders through an entitlement offer.
"This capital will advance our mental healthcare programs, especially our efforts to combat severe PTSD, and accelerate our drug development initiatives.
"Emyria's unique approach serves patients grappling with complex mental health issues while generating revenues and real-world data to lay a solid foundation for our future growth and innovation.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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Emyria Limited is an Australia-based clinical services and drug development company. The Company is focused on developing patient outcomes in neuroscience and mental health through its clinical service delivery, proprietary real-world data (RWD), and drug discovery & development. It delivers evidence-based and emerging therapies for mental health and other unmet needs through its Emerald Clinics and the Pax Centre. Emerald Clinics specializes in providing treatments for patients with complex and chronic conditions. The Pax Centre specializes in treating individuals grappling with the psychological impacts of traumatic experiences. Through its advanced data platform operated by Palantir, the Company collects robust and ethically sourced real-world data to improve its care models and support its distinct therapy and drug development initiatives. The Company is also developing several proprietary ultra-pure cannabinoid dose forms and advancing them towards registration, such as EMD-RX5.