** Shares of drug developer Edesa Biotech EDSA.O surge 68.9% to $3.1 in morning trade

** EDSA says it is raising $15 million from private placement of shares

** Co says it will use the proceeds towards a mid-stage trial evaluating its experimental treatment EB06 in patients with nonsegmental vitiligo, a chronic skin disorder that causes patches and loss of skin color

** Co says shares were offered directly to the investors without a placement agent, underwriter, broker or dealer

** Co has 3.47 mln outstanding shares and market value of $6.45 mln - LSEG data

** Stock fell ~69% in the last 12 months

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com;))