On August 24, 2020 Nascent Biotech, Inc (OTCQB:NBIO reported that it is closing on a direct private placement with aggregate proceeds of $740,000 (Press release, Nascent Biotech, AUG 24, 2020, View Source [SID1234563976]).

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The proceeds allow the Company to complete the required testing for removing the partial clinical trial hold, imposed by the FDA, and will permit the company to begin the Phase I clinical trials on brain cancer.

Sean Carrick, CEO of Nascent commented, "The financing has come from private individual investors and we are pleased by the interest in this round. We chose to accept strategic money knowing equity funding will prove to be more beneficial to the Company than debt financing."