⏱ 1 min read
Background
MindMaze Therapeutics is a Geneva-based company specialising in scalable precision neurotherapeutics.
The key points
MindMaze Therapeutics has signed an 8 million franc equity financing agreement with Neuro.io Group. The deal gives Neuro.io a strategic stake in the company, according to GGBa.
The funds will be used to expand MindMaze Therapeutics' presence in the United States and deploy its solutions more widely. The financing should strengthen the company's balance sheet as it scales up.
Key figures
- 8 million francs in equity financing.
- Two tranches: treasury share purchases and mandatory convertible loan notes.
- Close to 30 million ordinary shares expected after conversion, over twelve months.
What it means for businesses
The two parties have signed a letter of intent to explore several strategic options, including a possible business combination. Talks are to pair MindMaze Therapeutics' clinically validated neurotherapeutics platform with Neuro.io's healthcare AI capabilities.
What's next
The stated aim is to develop AI-enabled interventions for neurological disorders.
