Irish-founded Nutriband raises millions in fresh funding

Company intends to file for FDA approval for its proprietary abuse-deterrent technology

Gareth Sheridan, founder and chief executive of Nutriband, said the funding would be used to complete clinical development of its flagship Aversa technology

Nutriband, the Irish-founded pharma company listed on the Nasdaq exchange, has raised $8.4 million (€7.9 million) via a private placement.

The company on Friday entered into definitive securities purchase agreements for the purchase and sale of 2.1 million shares at a purchase price of $4 per share.

The proceeds from the placement will be used to complete the remaining clinical development of the company’s flagship Aversa technology ahead of plans to seek FDA approval for ...