Neurotech International secures $4.5M in placement

• Neurotech International secured $4.5 million in binding commitments through a two-tranche share placement.
• Following the capital raise announcement, Neurotech shares traded up at $0.017.
• Proceeds will fund operations through topline clinical trial results for its NTI164 paediatric autism programme.

Neurotech International (ASX:NTI) has secured binding commitments to raise $4.5 million to advance its Phase 3 paediatric autism clinical trial.

The capital raise follows a trading halt on July 31 while the company finalised the transaction details.

Under the agreement, the company will issue approximately 321.41 million new ordinary shares at $0.014 per share.

Joint lead managers Taylor Collison and Canary Capital organised the placement across two tranches, with completion planned for September.

Neurotech stated that proceeds will fund operations through trial results, and following the announcement, the Neurotech share price was up at $0.017.

The company focuses on developing NTI164, a proprietary drug formulation targeting neuroinflammatory pathways in paediatric neurological conditions.

The placement builds on recent operational progress, including a $3.2 million research loan and United States patent approvals secured in July.