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Neurotech founder Adrian Trevisan (left) with chief executive Wolfgang Storf.

Neurotech raises $4m for medical device

Medical technology company Neurotech International has tapped investors for $4 million to fund further development of its Mente Autism device.

Perth-based Neurotech, which listed on the ASX last year through a $7 million IPO, raised the funds through the placement of 20 million shares at 20 cents each, representing a 10.5 per cent discount to its five-day volume-weighted average price.

The proceeds will be used to further develop and enhance its Mente Autism product, which uses neurofeedback technology to help children with autism spectrum disorder.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
thNeurotech International0%0%
45thMyFiziq259%0%
66thZelda Therapeutics193%24%
188thWeebit-Nano46%-19%
222ndOokami35%12%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

179th-Neurotech International$104k
182nd-Weebit-Nano$105k
183rd-Zelda Therapeutics$100k
185th-Ookami$95k
186th-MyFiziq$90k
234 listed industrial companies ranked by revenue.
Source: Morningstar

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