Much Advises Wesana Health in Successful Closing of C$16.1 Million Financing
Much served as counsel to Wesana Health Inc. in the successful closing of its C$16.1 million oversubscribed private placement ahead of completing its go-public transaction. Wesana Health is an emerging life sciences company committed to patient empowerment and the advancement of psilocybin-based medicine.
Principals David Brown, Matthew Feery and David Schmidt as well as associates Brian Crump and Madison Schmid advised Wesana Health on the funding round, which included Ambria Capital LLC, JLS Fund, K2 & Associates, Lynwood Capital Management, Sol Global and George Steinbrenner IV.
"We are proud to advise Wesana Health at this critical stage and look forward to supporting the company as it continues to grow," said Much Chairman David Brown. "Wesana's psychedelic and naturally sourced therapies will provide an important and innovative treatment option for those suffering from trauma. This is a fascinating field, and we look forward to seeing the Wesana team truly make a difference in people's health and wellness."
Through extensive research and academic partnerships, Wesana Health is developing evidence-based formulations and protocols that empower patients to overcome neurological, psychological and mental health ailments. Proceeds from the financing will be used primarily to fund the company's preclinical and clinical development of psychedelic-assisted therapy to treat traumatic brain injury. The financing will also allow the company to scale its senior leadership team as it works to deliver on key milestones.
"We are grateful to have the strong support from new and existing institutional investors as we close this oversubscribed financing. When we set out to establish Wesana, we were personally very motivated to bring alternative treatments to market for those suffering from traumatic brain injury. To our great pleasure, we were able to find shareholders that are equally as motivated in not only our business model, but in the importance and unmet need for the innovative treatments we are developing. Enhancing our institutional ownership through this financing is a key step to providing us with the necessary capital to continue our clinical development," said Daniel Carcillo, co-founder and CEO of Wesana Health. Known for winning two Stanley Cups with the Chicago Blackhawks, Daniel continues to play a key role in the movement for brain health.