secures $20m support from institutional investors
Beauty treatments provider SILK (ASX: SLA) has successfully raised $20 million by issuing 4.7 million new shares. The institutional placement offered securities at $4.30 per share. The price represents a discount of 5.1 per cent to the firm’s last closing price. The proceeds from the placement will partially fund the acquisition of Beauty Services Holdings.
teams up with Vectura in product registration process
Medical cannabis researcher Incannex (ASX:IHL)
is set to enter into a collaboration with London-listed pharmaceutical company Vectura Group in a bid to acquire regulatory approval for the ASX-listed company’s brain injury treatment. Under the partnership, Vectura will develop the specific formulation for IHL-216A required for clinical trials. IHL-216A is Incannex’s s proprietary inhaled drug designed to reduce damage from secondary brain injuries.