Neumentum, a Palo Alto, California-based developer of non-opioid pain products for acute and chronic pain, raised $6m in Series A funding.
The backers were not disclosed. Brookline Capital Markets acted as the exclusive placement agent for the financing.
The company will use the funds to advance a pipeline of non-opioid drug candidates.
Led by Scott Shively, president and CEO, Neumentum is developing and plans to commercialize products that effectively treat pain, without the risks of abuse, misuse and diversion seen with opioid analgesics. Its lead product candidates include:
– NTM-001 (pre-mixed bag ketorolac continuous infusion) and
– NTM-002 (IV patient-controlled analgesia).
The company also announced it has requested a Type B meeting with the U.S. Food and Drug Administration (FDA) to discuss the Phase 3 program for NTM-001. This novel injectable analgesic candidate is designed for use in postsurgical acute pain management.