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Bioasis raises C$2.8M via private placement of units

Bioasis Technologies Inc. raised about C$2.8 million through a private placement of 1,280,000 units priced at 55.2 Canadian cents each.

Each unit was made up of a common share and a warrant to buy an additional stock for 69 Canadian cents.

Bioasis Technologies will use net proceeds on its clinical development pipeline, for working capital and general corporate purposes. The company is using its proprietary technology to help with the delivery of medicines across the blood-brain barrier for the treatment of brain cancers and neurodegenerative diseases.

Roth Capital Partners acted as exclusive placement agent for the offering.