The amount of the deal was not disclosed.
The company intends to use the funds to accelerate its GAMES-RP clinical trial of its central nervous system drug RP-1127.
Led by Sven Jacobson, CEO, Remedy Pharmaceuticals focuses on developing drugs for acute central nervous system disorders. GAMES-RP is a Phase 2 randomized, double blind, placebo controlled, multi-center study of RP-1127 in patients with a severe ischemic stroke who are likely to experience clinically significant brain swelling, culminating in further ischemic damage, enlargement of the infarct, brain herniation, and death.
It is currently recruiting at 12 centers across the US – Stanford University Medical Center, University of Louisville Hospital, University of Maryland Medical Center, Oregon Health & Science University Hospital, Cleveland Clinic, Northwestern Memorial Hospital, Massachusetts General Hospital, UMASS Memorial Medical Center, Medical University of South Carolina, Ohio State University Wexner Medical Center, Yale-New Haven Hospital, and Maine Medical Center.
The trial is expected to be completed at the end of this year or early next year.