VistaGen Therapeutics Inc. raised about $2.3 million from its private placement to individual investors.

The California-based company sold about 1.8 million units for $1.25 apiece.

Each unit consisted of one unregistered common share and a warrant to buy 1 unregistered common stock for $1.50 per share.

The company intends to use the proceeds for general working capital purposes.

VistaGen develops and commercializes medicines for depression and other central nervous system disorders.