Zynerba Pharmaceuticals Closes $13M Funding

zynerba-pharmaceuticalsZynerba Pharmaceuticals, Inc., a Radnor, Pa.-based specialty pharmaceutical company dedicated to the development of innovative transdermal cannabinoid treatments, closed a $13m funding round.

New investors include Perceptive Advisors LLC.

The company intends to use the proceeds for development efforts for its transdermal cannabinoid therapies.

Led by Armando Anido, chairman and CEO, Zynerba Pharmaceuticals is developing two therapeutic candidates based on proprietary transdermal technologies:
– ZYN001 will be studied in fibromyalgia, neuropathic pain and chronic cancer pain utilizing a synthetically manufactured prodrug of THC in a transdermal patch to deliver THC through the skin and into the bloodstream. Zynerba expects to initiate ZYN001 Phase 1 clinical studies in 2Q 2015; and
– ZYN002 will be studied in epilepsy and rheumatoid arthritis, utilizing a proprietary gel to deliver synthetically manufactured cannabidiol (CBD), a non-psychotropic cannabinoid, through the skin and into the bloodstream. Zynerba expects to initiate ZYN002 Phase 1 clinical studies in 3Q 2015.

FinSMEs

15/10/2014

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