Thiogenesis Therapeutics Completes C$9.07M Private Placement

Thiogenesis Therapeutics Corporation, a clinical-stage biotechnology company, successfully completed an oversubscribed non-brokered private placement, raising gross proceeds of C$9,071,850. The company issued 18,143,700 common shares at C$0.50 per share. The funds will primarily be used to advance the clinical development of TTI-0102, a drug for rare diseases like cystinosis and Leigh syndrome spectrum disorders, including an investigator-initiated study and a Phase 2a clinical study. The offering received conditional acceptance from the TSX Venture Exchange and involved payments of C$561,529.50 in finder's fees and the issuance of 780,059 finder's options. Bloom Burton Securities also provided advisory services for a C$50,000 fee. An independent director of Thiogenesis Therapeutics Corporation participated in the offering, acquiring 150,000 shares.