Zelira Therapeutics Ltd (ASX:ZLD) (OTCQB:ZLDAF) has accepted applications from overseas investors for an additional 1.08 million shares as part of the share placement.
Following the acceptance of oversubscriptions, the placement will raise $4.64 million in total.
The funds will be used to accelerate Zelira’s plans to launch multiple products into global markets in 2020 and to advance its clinical programs, including its Insomnia and Opioid Sparing trials, which are due to read-out in the first half of this year.
A global therapeutic medicinal cannabis company
Zelira is a leading global therapeutic medicinal cannabis company with access to the world’s largest and fastest-growing cannabis markets.
The company owns a portfolio of proprietary revenue-generating products and a pipeline of candidates undergoing clinical development that are positioned to enter global markets from 2020.
It is currently undertaking:
- Human clinical trial programs focused on insomnia, autism and opioid reduction with activities in Australia and the US; and
- Pre-clinical research examining the effect of cannabinoids in breast, brain and pancreatic cancer as well as research examining the potential for cannabinoids to treat diabetes-associated cognitive decline.