Receptor Holdings, Inc. Secures $29 Million Funding Round
Receptor Holdings, Inc. and its wholly-owned subsidiary, Receptor Life Sciences, a biopharmaceutical company developing cannabinoid medicines featuring distinct pharmaceutical drug delivery technologies, today announced that it raised $29 million in a combined convertible debt and Series A round of financing.
Receptor controls patented and disruptive oral and inhaled drug delivery technologies that are validated by their use in FDA-approved products. In initial studies, Receptor’s oral dosage formulations facilitated rapid drug absorption from the GI tract with higher bioavailability than has been reported for existing oral cannabinoid products. Receptor’s inhalation technology combines a simple-to-use, breath-powered inhaler with dry powder cannabinoid formulations that provides ultra-rapid, precise and discreet delivery of cannabinoid medicines to the deep lung.
“The closing of the Series A round will allow us to initiate IND-enabling studies in the United States and to formalize collaborations in Canada and Europe,” said Greg Wesner, Chief Executive Officer of Receptor Holdings. “The growing consensus is that cannabinoids have the potential to meet numerous and significant unmet medical needs for indications including epilepsy, chronic pain and post-traumatic stress disorder. By leveraging validated drug delivery technologies, we believe our products have the potential to set the standard of care for cannabinoid medicines in terms of onset of action, bioavailability and consistency.”
ABOUT RECEPTOR HOLDINGS
Receptor Holdings, Inc. owns or has exclusively licensed drug delivery technologies characterized by high bioavailability, rapid onset of action and lower variability and is applying these technologies to the burgeoning field of cannabinoid therapy. Its wholly-owned subsidiary, Receptor Life Sciences, is focused on the development of cannabinoid drugs regulated by the U.S. Food and Drug Administration. Receptor Holdings also plans to introduce its disruptive technologies to the non-prescription cannabinoid markets that are developing in Canada, Europe and elsewhere.
For more information, visit www.receptorlife.com.
FORWARD-LOOKING STATEMENT DISCLAIMER
The preceding release may include forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the beliefs of the Company’s management and on assumptions made by and information currently available to management. All statements other than statements of historical fact, regarding the Company’s financial position, business strategy and plans and objectives of management for future operations of the Company are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those indicated by the forward-looking statements.
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