- Medibio (MEB) enters a trading a halt, as the company prepares to raise new funds
- The company has not yet disclosed how much it is seeking to raise or where the funds will be directed, however these details are expected to be released by Thursday
- The company specialises in health care technology, with a focus on early detection of mental health conditions
- One of the key areas in its product pipeline is MEB-001, a medical software device designed to identify clinically significant depressive burden in patients
- Shares in the company last traded at 0.3 cents each on June 10
Medibio (MEB) has entered a trading a halt, as the company prepares to raise new funds.
The company has not yet disclosed how much it is seeking to raise or where the funds will be directed, however these details are expected to be released by Thursday.
Until then, trading of MEB shares will be paused.
The company specialises in health care technology, with a focus on early detection of mental health conditions.
It was recently involved in a study which assessed the first-onset of depression in the Italian population during the pandemic.
One of the key areas in its product pipeline is MEB-001, a medical software device designed to identify clinically significant depressive burden in patients.
Last month, the company received Food and Drug Administration (FDA) approval for its diagnostic method, which will help drive its ability to prove the devices efficacy in trials.
Shares in the company last traded at 0.3 cents each on June 10.