BOSTON--(BUSINESS WIRE)--MetaStat, Inc. (OTCQB: MTST), a biotechnology company focused on the development and commercialization of diagnostic tests prognostic for risk of cancer metastasis, companion diagnostics to predict drug response, and anti-metastatic drugs, today announced the final closing of a private placement consisting of its common stock and warrants resulting in total gross proceeds of $2.6 million before placement agents’ fees and offering expenses. The offering was led by prominent institutional healthcare investor, Perceptive Advisors, along with new and existing accredited investors.

About MetaStat, Inc.

MetaStat is a pre-commercial biotechnology company focused on the development and commercialization of diagnostic tests prognostic for risk of cancer metastasis, companion diagnostics to predict drug response, and anti-metastatic drugs. Our driver-based platform technology is based on the pivotal role of the Mena protein and its isoforms, a common pathway for the development of metastatic disease in epithelial-based solid tumors. Our product development strategy is based on identifying patients most at risk for cancer metastasis and targeting the underlying mechanisms that drive the metastatic cascade. Unlike most oncology therapeutics that kill cancer cells directly or inhibit cancer cell proliferation, we focus on preventing aggressive tumors from spreading. This is particularly relevant as most cancer deaths are caused by aggressive tumors that spread throughout the body and not due to growth of the primary tumor.