CWRU startup NervGen Pharma raises $7.5 million from initial public offering

NervGen Pharma Corp., a Vancouver-headquartered company founded to develop regenerative-medicine technology licensed from Case Western Reserve University, has raised about $7.5 million from an initial public offering.

On Friday, March 15, Shares of NervGen are to begin trading on the Canadian TSX Venture Exchange under the symbol “NGEN,” according to a news release.

Dedicated to creating innovative solutions to treat nerve damage, the two-year-old company issued 10 million common shares at $1 per share (Canadian dollars) on March 13. Proceeds will be used to advance the company’s leading product, NVG-291, toward clinical development to treat spinal cords, according to the release.

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Story excerpt provided by Crain’s Cleveland Business.

Originally published March 15, 2019.

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