Aion Therapeutic Inc (CSE:AION) (OTCMKTS:ANTCF) has raised C$1,487,016.56 gross from a private placing, which will be used for general working capital purposes.
The pharma-focused group issued over 16.9 million units at C$0.0875 each, with each unit consisting of one company share and one-half of one warrant.
Each warrant entitles the holder to buy a company share for C$0.15 for 24 months from closing.
READ: Aion says its medicinal mushroom and cannabis formulations made with Apollon effective at killing breast cancer cells
Aion is an international pharma, nutraceutical and cosmeceuticals business. Its subsidiary AI Pharmaceuticals Jamaica Ltd develops formulations and products that use mushrooms - functional and ones including psilocybin - fungi, and other natural formulations from medicinal plants in a legal environment.
In May this year, it reported that a combined formulation of its medicinal mushrooms and a medical cannabis treatment developed by UK-based Apollon Formularies PLC (LON:APOL) had been effective at killing HER2+ breast cancer cells, which cause around 20% of all breast cancers.
The medicinal mushroom formulations were developed by Aion’s subsidiary AI Pharmaceuticals Jamaica Ltd, while the medical cannabis formulations were developed by Apollon's affiliate, Apollon Formularies Jamaica Ltd.
Contact the author at giles@proactiveinvestors.com