Sinapis Pharma Closes Series ‘A’ Financing
JACKSONVILLE, Fla., Nov. 17 /PRNewswire/ — Sinapis Pharma, Inc. has successfully completed a Series “A” Preferred stock offering that has raised $510,000 for its ongoing drug development program. Sinapis Pharma has discovered and is developing a novel therapeutic approach to neuronal protection using its intravenous methamphetamine technology. The company has strong pre-clinical data in stroke and traumatic brain injury animal models conclusively demonstrating a 12-hour therapeutic window and multiple pathway neuroprotection.
The current financing will allow the company to reach significant development milestones. Investigational New Drug (IND) application submission to the FDA is anticipated for December 2009 with a Phase I clinical trial commencing in the first quarter of 2010. A Phase II proof of concept study is expected to commence in late 2010 for the stroke indication in humans.
Dr. Donald Picker, Sinapis CEO, relates: “We are excited that we can begin the development of methamphetamine for stroke. We have a rapid, inexpensive development pathway to proof of principle in man within 24 months due to the drug’s previous human use for other indications, and anticipate being the first drug to enter stroke clinical trials with solid 6-12 hour pre-clinical data.”
Sinapis Pharma, Inc. (www.sinapispharma.com) is an early stage biotechnology company whose lead compound methamphetamine, as a low-dose intravenous infusion, has shown remarkable pre-clinical efficacy in stroke and brain injury models.
For more information contact Dr. Picker at Don.Picker@gmail.com.
SOURCE Sinapis Pharma, Inc.