Sinapis Pharma, Inc., a Jacksonville, Florida-based early stage biotechnology company whose lead compound methamphetamine has shown remarkable pre-clinical efficacy in stroke and brain injury models, has completed a $510,000 Series A Preferred stock offering.
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 funds 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.