- With a recent capital raise, Therma Bright (TSXV:THRM) advanced funds to expand its InStatin investment, as part its SAFE investment plan
- InStatin is creating a treatment using inhaled statins for managing chronic lung conditions such as asthma and chronic obstructive pulmonary disease
- In June 2024, Therma Bright closed the first tranche of C$854,500 in its non-brokered private placement and C$250,000 will go towards InStatin
- Therma Bright Inc. last traded at $0.045 per share
With a recent capital raise, Therma Bright (TSXV:THRM) advanced funds to expand its InStatin investment, as part its SAFE investment plan.
InStatin is creating a treatment using inhaled statins for managing chronic lung conditions such as asthma and chronic obstructive pulmonary disease (COPD). Before Therma’s SAFE investment, Therma Bright owned 17 per cent of InStatin. This investment will increase Therma’s ownership at a discount in the next financing round by InStatin.
InStatin’s development of its novel statin inhalant has shown promising laboratory results. The company is now starting preclinical studies necessary to advance to Phase 1 human trials. Both companies are optimistic about the potential success of this groundbreaking inhalant solution.
“The asthma treatment marketplace alone is expected to reach US$30.1 billion by 2030 which shows us a great opportunity for this space,” Therma Bright’s CEO, Rob Fia, said in a news release. “We expect InStatin to deliver the company and its shareholders great returns with this innovative, disruptive solution for patients suffering from asthma and COPD.”
In June 2024, Therma Bright closed the first tranche of C$854,500 in its non-brokered private placement. This comprises the initial portion of the offering where the company is selling up to C$1 million of its shares. C$250,000 will go towards InStatin and its Digital Cough Technology.
Along with fulfilling its investment obligation with InStatin, both teams have been exploring various opportunities for Therma Bright’s investment in InVixa. InVixa is dedicated to developing inhaled statins aimed at preventing and treating acute lung diseases caused by COVID-19. Their primary focus is on creating innovative inhaled therapies to treat COVID-19 pneumonia and acute respiratory distress syndrome.
Therma Bright is a developer and partner in a range of leading-edge, proprietary diagnostic and medical device technologies focused on important medical and healthcare challenges.
Therma Bright Inc. (TSXV:THRM) last traded at $0.045 per share and rose 80 per cent last week, with a 12.5 per cent increase since this time last year.
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