HaluGen Life Sciences Inc. in an all-stock transaction.
Entheon acquired 100% of HaluGen in exchange for 5.1 million Entheon shares.
Why Genetic Testing Is Important: Psychedelic compounds have gained significant attention in recent years for their potential to treat multiple mental health conditions including major depressive disorder, anxiety, PTSD and addiction.
However, psychedelic drugs have been found to trigger psychotic episodes in individuals with a genetic predisposition to conditions in the psychotic spectrum, like schizophrenia and bipolar I or II disorders.
HaluGen is attempting to commercialize a test to help identify genetic traits predictive of a patient’s reaction to hallucinogenic drugs. Its platform is expected to help evaluate an individual’s sensitivity and risk profile before the initiation of a treatment using psychedelic drugs.
Entheon Biomedical Corp. Announces Acquisition of HaluGen Life Sciences Inc.
Vancouver, British Columbia (Newsfile Corp. - January 14, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1) (
Entheon or the
Company ) is pleased to announce that the Company completed its acquisition of HaluGen Life Sciences Inc. (
HaluGen ), a biotech company in the business of developing and commercializing a pre-screening test to identify genetic markers predictive of an individual s reaction to hallucinogenic drugs. The Company acquired 100% of the issued and outstanding common shares in the capital of HaluGen (the
HaluGen Shares ) from the shareholders of HaluGen (the
HaluGen Shareholders ) pursuant to a share exchange agreement among the Company, HaluGen and the HaluGen Shareholders, resulting in HaluGen becoming a wholly-owned subsidiary of Entheon (the
Vancouver, British Columbia (Newsfile Corp. - January 12, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic
Entheon Biomedical Corp.: Entheon Biomedical Announces Private Placement
Entheon or the
Company )
announces that it is proceeding with a fully allocated, non-brokered private placement financing of 4,266,997 Units (the Units ) at a price of CDN$0.75 per Unit for gross proceeds of CDN$3,200,247.75 (the Placement ). This placement is fully subscribed by strategic investors and is expected to close on December 23rd.
Each Unit will consist of one common share in the capital of the Company (a Share ) and one-half of one non-transferable share purchase warrant. Each whole Warrant (a Warrant ) will be exercisable to acquire one additional Share at an exercise price of CDN$1.00 per Share for a period of 24 months from the date of issuance, subject to accelerated expiry.
It’s no exaggeration to say that 2020 served as the launching pad for psychedelics in the eyes of the capital markets. And that included us, as here at the Investing News Network (INN) we launched our own psychedelics-focused vertical.
Read on to get a sense of the psychedelics trends that are setting the stage for this promising new industry, with commentary from insiders and experts.
Psychedelics trends 2020: Markets get their bets ready as listings erupt
As mentioned, this year catapulted a fresh stock universe into existence as a variety of new companies went public across different exchanges.
While it wasn’t the first of the year, the listing of Compass Pathways (NASDAQ:CMPS) was one of the biggest landmark events for the industry in 2020. The company was the first psychedelics operation to list directly on the NASDAQ, opening the door for others to follow.