Neurotech International Ltd has successfully raised $4 million via a placement of shares at $0.20 each to drive its ongoing commercialisation of the Mente Autism device.

The Australian medical device company operates through its wholly-owned, Malta-based subsidiary AAT Research Limited.

Neurotech is focused on the development and commercialisation of technological solutions for the diagnosis and treatment of autism.

Mente Autism is a clinical-quality electroencephalography (EEG) device that uses neurofeedback technology to help children with Autism Spectrum Disorder (ASD).

The funds raised will be used for further product enhancements, manufacturing and purchase of additional inventory, and to investigate potential strategic initiatives.

Autism spectrum disorder is a developmental disability caused by differences in the brain.

Designed for home use, Mente Autism helps relax the minds of children on the spectrum, which in turns helps them to focus better and engage positively with their environment.

Neurotech is also pursuing further distributorships, complete its trial and make ongoing improvements to the Mente Autism device.

The company’s share price increased circa 11% during the past one month, closing at $0.205 on Monday.