RS BioTherapeutics, a Cumberland, MD-based company that leverages its understanding of the endocannabinoid system (ECS) to create medicines, raised $3M in Seed II funding.
The backers were not disclosed.
The company intends to use the funds to expand operations and its development efforts.
A wholly owned subsidiary of Real Science Holdco, LLC, RS BioTherapeutics uses its understanding of the Endocannabinoid System in the research, development, and commercialization of interventions to address chronic and acute pulmonary inflammation-based diseases.
In July, RS BioTherapeutics announced positive results from its proof-of-concept study with its development partner Synthonics and Marshall University, for its first investigational compound, RSBT-001. RSBT-001 is a patent-pending, nebulized, semi-synthetic, cannabidiolic acid complex in development to address exacerbation and prevent progression of both acute and chronic pulmonary inflammation related to respiratory diseases including COPD, SARS-COV-2, Cystic Fibrosis, Asthma, Bronchitis, and Acute Respiratory Distress Syndrome.
In August, the company announced that it is planning a biotherapeutics cultivation and manufacturing site in the Cumberland, Maryland area, which could potentially generate 100 high paying jobs within the next five years.
FinSMEs
26/09/2022