Emyria and THC Global both completed capital raisings this week.
THC Global announced it had raised A$2.75 million from a “strategic investment partner with institutional support”.
The funding will be used to develop a new online platform for doctors, patients and pharmacies and help the company broaden its manufacturing capability at its Southport facility away from oils and into cannabis vapes, capsules, suppositories and creams.
Meanwhile, Emyria successfully completed an oversubscribed $1.2 million placement to new strategic investors.
Managing Director Dr Michael Winlo said the funds will “help accelerate our first two, data-backed drug development programs focused on obtaining TGA registration.”