NervGen Secures $23M for Drug Development

Nervgen Pharma Corp (TSE:NGEN) has released an update.

NervGen Pharma Corp has successfully closed a public offering, raising C$23 million through the sale of units, which include common shares and warrants. This substantial funding will boost the development of their lead drug candidate, NVG-291, particularly advancing a clinical trial for spinal cord injury treatment. The offering was supported by leading investors, including The Paul & Phyllis Fireman Charitable Foundation, indicating strong backing for NervGen’s future endeavors.

For further insights into TSE:NGEN stock, check out TipRanks’ Stock Analysis page.