Bioasis Technologies Inc. closed a private placement of units to raise about C$1 million in gross proceeds.
The Richmond, British Columbia-based company issued 1,762,179 units at 55.2 cents apiece. Each unit consists of one common share and a warrant to buy one share for 69 cents.
Net proceeds will go toward clinical development of Bioasis' product pipeline, research and development, and working capital and general corporate purposes.
Bioasis develops products to diagnose and treat neurological diseases and disorders.