Sinapis Pharma, Inc., a Jacksonville, Florida-based developer of a novel therapeutic approach to neuronal protection using an intravenous methamphetamine technology, has completed an undisclosed bridge financing.
The capital will be used to continue to support the company’s drug development program.
Sinapis Pharma 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 financing will allow the company to conduct its Phase I pharmacokinetic/safety trial in humans with trial completion anticipated in Q3 2010.
Sinapis Pharma anticipates agreeing on a Phase II proof of concept study protocol with the FDA in late 2010, with Phase II trial initiation in early 2011.