Marvel Biosciences Announces Closing of Private Placement

Group 1 - Marvel Biosciences Corp. has closed a non-brokered private placement, issuing 8,150,000 units at a price of $0.125 per unit, resulting in gross proceeds of$1,018,750 [1][2] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at an exercise price of $0.175 per share for two years [2] - The company is developing MB-204, a novel fluorinated derivative of the anti-Parkinson's drug Istradefylline, which may also be effective in treating other neurological diseases such as autism, depression, and Alzheimer's Disease [3] Group 2 - The company is actively investigating the potential of MB-204 in addressing neurodevelopmental disorders like Rett Syndrome and Fragile X Syndrome to expand its therapeutic applications [3]