CAMBRIDGE, Mass., Aug. 7, 2024
/PRNewswire/ -- NeuroSense Therapeutics Ltd. (Nasdaq:
NRSN) ("NeuroSense"), a late-clinical stage biotechnology company
developing novel treatments for severe neurodegenerative diseases,
today announced the entry into a definitive agreement with certain
investors to purchase $600,000 of
ordinary shares and warrants in a private placement. In connection
with the offering, NeuroSense agreed to sell an aggregate of
800,000 ordinary shares and warrants to purchase an aggregate of
800,000 ordinary shares, at a combined purchase price of
$0.75 per share and accompanying
warrant, representing a purchase price of 10% above the closing
pricing of NeuroSense's ordinary shares on August 6, 2024. The warrants have a term of five
years from the date of issuance and an exercise price of
$0.75 per share.
The private placement is subject to customary closing conditions
and is expected to close during the week of August 12, 2014.
Insiders, including senior management of NeuroSense, the Chief
Executive Officer, the Chief Financial Officer, the Chief Medical
Officer, and members of the CEO's family, as well as previously
existing shareholders, are participating in the offering.
Proceeds from the private placement are expected to be used for
general corporate and working capital purposes.
Alon Ben-Noon, NeuroSense's CEO,
commented: "Our senior management team are highly confident and
enthusiastic about PrimeC's potential, especially given the
positive results from our Phase 2b
PARADIGM Study. We are dedicated to PrimeC's success and are
personally invested in its continued development. This round of
funding underscores our unwavering commitment to advancing PrimeC
and highlights our belief in its transformative potential for ALS
patients."
The offering is being made in reliance on an exemption from
registration under Section 4(a)(2) of the Securities Act and/or
Regulation D thereunder. Accordingly, the securities issued in the
offering may not be offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements of the Securities Act and such
applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About NeuroSense
NeuroSense Therapeutics, Ltd. is a clinical-stage biotechnology
company focused on discovering and developing treatments for
patients suffering from debilitating neurodegenerative diseases.
NeuroSense believes that these diseases, which include amyotrophic
lateral sclerosis (ALS), Alzheimer's disease and Parkinson's
disease, among others, represent one of the most significant unmet
medical needs of our time, with limited effective therapeutic
options available for patients to date. Due to the complexity of
neurodegenerative diseases and based on strong scientific research
on a large panel of related biomarkers, NeuroSense's strategy is to
develop combined therapies targeting multiple pathways associated
with these diseases.
For additional information, we invite you to visit
our website and follow us on LinkedIn,
YouTube and X. Information that may be important to
investors may be routinely posted on our website and these social
media channels.
Forward-Looking Statements
This press release contains "forward-looking statements" that
are subject to substantial risks and uncertainties. All statements,
statements relating to the private placement are forward-looking
statements, including, without limitation, as to the consummation
of the offering described above, the expected proceeds from the
offering, the intended use of proceeds and the timing of the
closing of the offering. All statements, other than statements of
historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
"anticipate," "believe," "contemplate," "could," "estimate,"
"expect," "intend," "seek," "may," "might," "plan," "potential,"
"predict," "project," "target," "aim," "should," "will" "would," or
the negative of these words or other similar expressions, although
not all forward-looking statements contain these words.
Forward-looking statements are based on NeuroSense Therapeutics'
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict and include
statements relating to the consummation of the offering described
above, the expected proceeds from the offering, the intended use of
proceeds and the timing of the closing of the offering. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. The future events
and trends may not occur and actual results could differ materially
and adversely from those anticipated or implied in the forward
looking statements. These risks include unexpected R&D costs or
operating expenses, a delay in the reporting of additional results
from PARADIGM clinical trial, the timing of expected regulatory and
business milestones, risks associated with meeting with the FDA to
determine the best path forward following the results from PARADIGM
clinical trial, including a delay in any such meeting; the
potential for PrimeC to safely and effectively target ALS;
preclinical and clinical data for PrimeC; the uncertainty regarding
outcomes and the timing of current and future clinical trials;
timing for reporting data; the development and commercial potential
of any product candidates of Neurosense; the ability of NeuroSense
to remain listed on Nasdaq; and other risks and uncertainties set
forth in NeuroSense's filings with the Securities and Exchange
Commission (SEC). You should not rely on these statements as
representing our views in the future. More information about the
risks and uncertainties affecting NeuroSense is contained under the
heading "Risk Factors" in the Annual Report on Form 20-F filed with
the Securities and Exchange Commission on April 4, 2024 and NeuroSense's subsequent filings
with the SEC. Forward-looking statements contained in this
announcement are made as of this date, and NeuroSense undertakes no
duty to update such information except as required under applicable
law.
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SOURCE NeuroSense