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Novamind has made a strategic investment of AU$827,486 (approximately CAN$810,000) in Bionomics (ASX:BNO)(OTCQB:BNOEF) to support its Phase IIb clinical trial of BNC210 for treating PTSD. This investment is part of Bionomics' AU$16,000,000 financing round, enhancing Novamind's involvement in mental health treatments leveraging psychedelic medicine. Cedar Clinical Research, a Novamind subsidiary, is being evaluated as a clinical site for the trial, benefiting from Dr. Reid Robison's extensive experience in neuropsychiatry.
Bionomics Limited has announced a capital placement of A$15,991,634 at A$0.145 per share, supported by North American and European investors. This funding enables the Company to advance its Phase 2b clinical trial for BNC210, targeting PTSD, scheduled for mid-2021. The share price reflects a 263% premium compared to its September 2020 capital raise. Following the placement, an Entitlement Offer will allow eligible shareholders to purchase shares at the same price. The initiative minimizes dilution for current shareholders, with significant backing from reputable life sciences funds.
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