BIOAF - Bioasis Technologies jumps 23% on funding agreement of up to C$10M

A pre-clinical, research-stage biopharmaceutical company, Bioasis Technologies ([[BIOAF]] +23.3%) announces that it has entered into a convertible security funding agreement dated June 22, 2021 with Lind Global Macro Fund, LP, an entity managed by The Lind Partners.Under the terms of the agreement, company may issue convertible securities in the principal amount of up to C$10M, with such proceeds being used for general working capital.“This significant financing will enable Bioasis to fully focus on the execution of its business strategy. Importantly, Bioasis now has the means to leverage its existing research in lysosomal dysfunction, neurodegeneration and neuroinflammation and to generate robust licensing packages for potential partners. Whilst there have been challenges in completing certain studies this year, due to constraints at our contract research organizations, these have been overcome and the company is well placed to accomplish its R&D and partnering objectives” said Dr. Deborah Rathjen, Executive Chair.

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Bioasis Technologies jumps 23% on funding agreement of up to C$10M