Company name: Relmada Therapeutics
Location: Blue Bell, Pennsylvania
Industry: Pharmaceuticals
Solution/product: Its lead product is chronic pain treatment LevoCap, a proprietary once-a-day extended release dosage form of the opioid levorphanol. It is being presented as an alternative to non-opioids and other opioids that do not provide adequate relief. Its pipeline also includes Mepivacaine gel, a gel form of local anesthetic mepivacaine, used to treat peripheral neuropathies associated with diabetes and HIV as well as postherpetic neuralgia; Buprenorphine extended release (ER), an oral dosage form of buprenorphine to treat chronic pain and opioid dependence; andd-methadone.
Money raised: $3 million in initial close of series A round.
How it will be used: Commenting on its lead product, LevoCap, CEO Sergio Traversa said in a company statement that it anticipates completing additional formulation development, manufacturing and pharmacokinetic studies required to initiate phase 3 studies by mid-2013. It will use additional funds from ongoing series A financing to further develop its product pipeline.
Investors: BioAdvance, Ben Franklin Technology Partners of Southeastern Pennsylvania and Wonpung Mulsan Co.
Competitors: Endo Health Solutions, Pfizer, NeurogesX, Purdue Pharma, Actavis (being acquired by Watson Pharmaceuticals), Covidien and Reckitt Benckiser.
By Stephanie Baum
Stephanie Baum is the East Coast Innovation Reporter for MedCityNews.com. She enjoys covering healthcare startups across health IT, drug development and medical devices and innovations deployed to improve medical care. She graduated from Franklin & Marshall College in Pennsylvania and has worked across radio, print and video. She's written for The Christian Science Monitor, Dow Jones & Co. and United Business Media.Visit website | More posts by Author
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