Neurotech International Limited (ASX: NTI), a clinical-stage biopharmaceutical development company focused predominantly on paediatric neurological disorders, has announced it has received binding commitments for a placement of approximately $4 million. The placement involves the issue of 285,976,909 new fully paid ordinary shares. The company will use the funds raised to advance its NTI164 non-clinical toxicology and registration-enabling clinical programs, progress regulatory submissions, and support general working capital.
The placement garnered support from existing and new institutional, professional, and sophisticated investors. Subject to shareholder approval, all directors of the company have elected to participate in the placement for a total of approximately $250,000. The issue price under the placement is $0.014 per new share, representing a 23.8% discount to the 15-day VWAP of $0.0184.
Dr Anthony Filippis, Managing Director and CEO of Neurotech, expressed gratitude for the strong investor support and welcomed the new investors. He stated that the company is focused on deploying the funds to advance the development of NTI164 for paediatric neurological disorders as it moves into 2026. He further emphasized that the commitment from both existing and new investors provides a solid foundation as the company pursues its mission to deliver innovative treatment options for patients and families affected by these challenging conditions.
Taylor Collison Limited acted as Lead Manager for the placement and will receive a 2% management fee and a 4% selling fee on the gross placement proceeds. Further details regarding the placement can be found in the Appendices 3B lodged by the company today.
