Vancouver biotech NervGen raises $23M in bought deal

A Vancouver biotech that has a drug candidate for repairing damaged nerves in spinal cord injuries has raised $23 million to help move the drug through clinical trials.

On March 21, NervGen Pharma Corp. (TSX-V:NGEN, OTCQX:NGENF) announced that a syndicate of underwriters led by Stifel Canada, Canaccord Genuity and PI Financial had agreed to buy 8,515,000 units in company at $2.35 per unit, with each unit including one common share and one-half of one common share purchase warrant.

Each warrant entitles the holder to buy one common share at $3 per share at any time up to 36 months following the closing date of the offering. They also had the option

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