Emyria Limited (Emyria) has received firm commitments from strategic investors in a well supported $2.5m placement jointly led by Sixty Two Capital and Taylor Collison. Emyria Limited is a clinical drug development and care delivery company focused on accelerating drug development and improving patient outcomes in neuroscience and mental health.
How will Emyria use the funds?
Funds raised will be used to support the delivery of MDMA-assisted therapy with leading trauma specialist centre – The Pax Centre – from July 1st, 2023. Patient-ready MDMA supply has already been secured, training has been scheduled with internationally renowned psychiatrist, Dr Ben Sessa and Emyria’s care protocol is under ethics committee review.
In addition, Emyria is also establishing an evidence-based, licensable care model for both MDMA- and psilocybin-assisted therapy that can scale through partner sites. Funding from this Placement will help Emyria scope additional clinical partnership opportunities.
The funds will also help advance the currently active Phase 3 clinical trial supporting registration activities of EMD-RX5 – an Ultra-Pure CBD over-the-counter treatment for anxiety and stress. Emyria has signed a commercialisation Term Sheet with Aspen Pharmacare Australia that will generate royalties for the firm pending successful registration.
Support the US, FDA registration preparations for Emyria’s high-potency, Ultra-Pure CBD product, EMD-RX9. Advance multiple preclinical screening programs for Emyria’s novel MDMA-inspired drug discovery program being developed with the University of Western Australia.
What does the funding mean for Emyria?
Emyria’s Managing Director, Dr. Michael Winlo, said: “This $2.5m placement shows the confidence of our strategic investors in Emyria’s vision and potential. This investment enables us to advance multiple, innovative treatment development programs as well as deliver scalable, evidence-generating psychedelic-assisted therapy with our specialist partners.”
“We are well set to deliver on our vision of improving the lives of patients with mental health and neuroscience challenges while generating enduring value for our Shareholders,” he said.