Neumentum, Inc., a California-based company that is developing and plans to commercialize products to treat pain, without the risks of abuse, misuse and diversion seen with opioid analgesics, raised funding from AngelMD, an investment and networking platform connecting innovative medical startups, physicians, investors, and industry partners.
The amount of the deal was not disclosed.
The company intends to use the capital to accelerate and complete a Phase I pK study and prepare and initiate Phase III clinical trials for its lead product candidate, NTM-001.
NTM-001 is a novel, alcohol-free formulation of the non-steroidal anti-inflammatory drug (NSAID) ketorolac in a pre-mixed bag designed for 24-hours of continuous infusion following surgery. It is being evaluated to manage moderately severe acute pain that requires analgesia at the opioid-level, usually in a post-operative setting, potentially reducing the need for opioid pain relievers.
The Phase I study of NTM-001 is designed to evaluate the pharmacokinetics of NTM-001 continuous infusion compared with ketorolac IV injection every 6 hours. The study will be comprised of 4 cohorts and will enroll 64 subjects at 2 sites.
Neumentum is led by Scott Shively, co-founder and chief executive officer.