Sign up Australia
Proactive Investors - Run By Investors For Investors

Medibio bags $13.9M to progress mental health diagnosis technology

Fidelity Investments continues to maintain a 10.6% ownership in Medibio.
human brain
Fully funded to pursue commercialisation strategy

Medibio Ltd (ASX: MEB, OTCMKTS:MDBIF) has secured firm commitments to raise $13.9 million via the placement of shares at $0.36 each to institutional investors.

Fidelity Investments followed on to maintain its 10.6% ownership in Medibio with IFM Investors and Regal FM becoming substantial shareholders post-transaction.

Medibio is a mental health technology company that uses objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions.

Sleep and other circadian measures provide a powerful lens into mental wellbeing and Medibio’s solution leverages the science linking sleep and mental health.

The company is now fully funded to pursue its aggressive commercialisation and intellectual property (IP) strategy.

The new funds will allow Medibio to build out organisational infrastructure for product commercialisation and to develop the technology platform to support commercialisation.

READ NEXT: Medibio partners with Mayo Clinic to address psychiatric conditions

Earlier this month, Medibio signed a five-year clinical trial agreement with Mayo Clinic to develop new product solutions to assist physicians in addressing psychiatric conditions.

The agreement provides for the conduct of multiple clinical trials involving the use of one or more of Medibio’s proprietary products as well as assist in future product development.

Mental health represents one of the largest clinical problem today with an estimated 350 million people word-wide suffering from depression.

According to the World Bank, depression and anxiety disorders cost the world nearly US$1 trillion annually.

View full MEB profile View Profile

Medibio Ltd Timeline

Newswire
October 11 2017
Newswire
November 18 2016

Related Articles

nizoral shampoo
June 19 2018
The new product will be the company's fourth international star brand
pills
July 26 2018
Under former chief executive Peter George and his successor Shaun Chilton, Clinigen has been transformed via a series of well-judged, quickly integrated and cash generative acquisitions
3d rendering of an antibody
July 24 2018
It is teaming up with Bach BioSciences, a company commercialising the research of William Bachovchin, a professor at Tufts University School of Medicine, Boston

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use