Bionomics Limited (ASX:BNO)
has announced its set to launch Phase 2 of its novel anxiety drug BNC210 as a treatment for post-traumatic stress disorder.
The program will be funded with a $US12 million private placement to institutional investors.
The company said the placement highlights increasing interest from US investors as Bionomics continues to build visibility in the US.
The new trial is expected to begin in the first half of 2016 across Australia and New Zealand.
Bionomics recorded a net loss of $16.95 million at 30 June 2015