Bod Science has not yet completed settlement of tranche one in its current capital raise, after delays emerged in receiving funds from cornerstone investor Antah Healthcare Group.
Earlier this month, Bod outlined plans to raise more than A$2 million, with Malaysian partner Antah committing to $1.1 million worth of shares (36.67 million) — a stake that would give it 14.9% of the company.
Bod informed the ASX that Antah has advised it is still awaiting a Monetary Authority of Singapore approval to transfer the relevant funds.
Antah has told Bod the approval is a formality expected to come through shortly, after which its tranche one placement commitment of approximately $440k will be transferred "immediately".
Bod also noted that Antah has reconfirmed its commitment to the placement in writing on two separate occasions, with settlement anticipated "in the coming days".
UPDATE (November 22, 2023): Bod has received a A$1.65 million research and development (R&D) tax incentive rebate for FY23, which fully covers a $1.22 million loan repayable to Radium Capital.
Bod said the rebate underscores its "commitment to drug development and product innovation including its ongoing clinical trial of a unique Schedule 3 (pharmacist-only) CBD medicine".
Emyria
Emyria has brought on Greg Hutchinson as independent non-executive chairman, with Dr Stewart Washer transitioning into an unpaid advisory role.
Hutchinson brings more than 30 years of experience in clinical services leadership, including 13 years as CEO of Sonic HealthPlus and Deputy CEO of Sonic Clinical Services — both subsidiaries of S&P/ASX 100 company Sonic Healthcare.
He has also been a board member of Tennis Australia since 2015.
Emyria CEO and MD Dr Michael Winlo said Washer had laid the foundations of "a company committed to personalised therapy and data acquisition to guide the development of innovative treatments to address unmet clinical needs".
He added: "We are excited to welcome Greg, whose exceptional track record in founding and scaling clinical operations and healthcare management will be pivotal in our next growth phase, particularly in expanding our MDMA-assisted therapy program."
