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The latest update is out from Mindbio Therapeutics Corp. ( (TSE:MBIO) ).
MindBio Therapeutics Corp. has announced a non-brokered private placement to raise up to $1,100,000 through the issuance of AI Units and LIFE Units. The proceeds will be used to advance its intoxication detection technologies for consumer and enterprise mental health applications. The company has also completed the development of clinical software for data collection and analysis, which will aid in building its first prototype of intoxication detection technology for enterprise use within the next 4-6 months. This initiative is expected to enhance MindBio’s positioning in the mental health technology sector and provide significant value to its stakeholders.
More about Mindbio Therapeutics Corp.
MindBio Therapeutics Corp. is a clinical-stage biotechnology company based in Vancouver, British Columbia. It focuses on developing novel treatments for mental health disorders and health prediction technologies using AI and machine learning. The company conducts clinical trials and engages in health research, with a particular emphasis on prediction technologies for drug and alcohol intoxication detection using speech.
Average Trading Volume: 1,055
Technical Sentiment Signal: Sell
Current Market Cap: C$1.02M
Learn more about MBIO stock on TipRanks’ Stock Analysis page.