Apex Files Phase 2a Clinical Trial Application with Health Canada Announces Series A Financing

VANCOUVER, B.C.,–Apex Labs is also announce the filing of a phase 2a Clinical Trial Application with Health Canada on February 3^rd, 2022.

This CTA is for a randomized, double-blind, placebo-controlled, dose-finding study to evaluate the safety, tolerability and efficacy of psilocybin in Veterans with post-traumatic stress disorder using drug product APEX-002.  Apex has secured its Veteran patient base, clinical trial location and Qualified Investigator for its phase 2a program expected to launch as early as Q2/Q3 2022.

Lastly, Apex is announcing its Series A financing round and is expecting to offer up to 8,000,000 units at $0.50 per unit for gross proceeds of up to $4,000,000 putting Apex at an approximately $12,000,000 pre-money valuation.

Similar to the previous financing rounds, each unit will be comprised of one common share and one-half warrant. Each warrant will entitle the subscriber to purchase an additional common share at $0.75 per common share for a term of 24 months.

(This information is primarily sourced from Apex.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).