BlinkLab Limited (ASX:BB1) Raises $7.66M to Advance AI-Powered Diagnostics for Autism and ADHD Trials

Jane Morgan Management

Highlights:

• A$7.66 million capital raise completed via a strongly supported placement to domestic and international sophisticated and institutional investors.
  

• Issue price of A$0.30 per share, representing a 16.7% discount to the last traded price and a 15.8% discount to the 15-day VWAP.
  

• The Board and Management are committed to contribute A$210,000 (subject to shareholder approval).
  

• ADHD market is over 4x larger than the autism diagnostic market, positioning for a significant market opportunity.
  

• Westar Capital and Alpine Capital acted as Joint Lead Managers to the Placement.
  

BlinkLab Limited (ASX:BB1), a digital healthcare company pioneering AI-driven diagnostics for neurodevelopmental conditions like autism and ADHD, has completed a placement to both domestic and international sophisticated and institutional investors, successfully raising A$7.66 million before costs at A$0.30 per share.

The capital raised will be able to accelerate BlinkLab’s FDA registrational trial for its autism diagnostic tool, BlinkLab Dx 1, as well as initiate a second clinical program targeting ADHD with its newly developed Dx 2 platform. Funds will also support regulatory approval processes in Europe, extend patent protections for the technology, and provide additional working capital to the Company.

The placement, which was strongly supported and capped at the company’s full placement capacity available, saw firm commitments from Australian and overseas investors, and the Board and Management have committed an additional A$210,000 (subject to shareholder approval).

Use of Funds includes:

• Accelerate ongoing FDA registrational trial for BlinkLab Dx1 (for Autism).

• Advance CE and MDR approvals for Dx1 in Europe.

• Initiate clinical trials for BlinkLab Dx2 (for ADHD) for FDA 510(k) approval process.

• Support operations and expand the company’s intellectual property portfolio

Placement Details

A total of 25,533,333 fully-paid ordinary shares will be issued at A$0.30 each – a 16.7% discount to the last traded price and 15.8% discount to the 15-day VWAP.

Regarding the allocation of the new shares:

• 14,896,333 will be issued under Listing Rule 7.1

• 9,937,000 under Listing Rule 7.1A

• 700,000 shares are proposed to be issued to directors and management, subject to shareholder approval

All shares will rank equally with existing shares. Settlement and allotment of the Placement shares (excluding director participation) are expected 8th of May 2025.

Westar Capital Ltd and Alpine Capital Pty Ltd acted as Joint Lead Managers to the Placement.

About BlinkLab Limited (ASX:BB1) 

BlinkLab Limited, a company founded by neuroscientists at Princeton University, over the past several years has fully developed a smartphone based diagnostic platform for autism, ADHD, schizophrenia, and other neurodevelopmental conditions. Our most advanced product is an autism diagnostic test that leverages the power of smartphones, AI and machine learning to deliver screening tests specifically designed for children as young as 18 months old. This marks a significant advancement, considering traditional diagnoses typically occur around five years of age, often missing the crucial early window for effective intervention. BlinkLab is led by an experienced management team and directors with a proven track record in building companies and vast knowledge in digital healthcare, computer vision, AI and machine learning. Our Scientific Advisory Board consists of leading experts in the field of autism and brain development allowing us to bridge most advanced technological innovations with groundbreaking scientific research. 

Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]