Embera NeuroTherapeutics, Inc., a Sudbury, MA- and Shreveport, LA-based specialty pharmaceutical company developing novel treatments for smoking cessation and other addictions, has closed a $4.5m in a continuation of its Series A financing.
Backers include existing shareholders Louisiana Ventures, L.P., Louisiana Fund I, and Themelios Ventures, as well as private investors.
Combined with development grant funding from the National Institute for Drug Abuse, the company intends to use the funds for clinical development of EMB-001 through a Phase 1 safety study in smoking cessation and cocaine dependence. EMB-001 is a novel addiction treatment that acts by modulating multiple stress-related pathways to address the craving that drives addiction and to maximize potential efficacy.
The company is led by CEO Bob Linke, Chairman of the Board Ross P. Barrett, and scientific founder Dr. Nicholas Goeders.