NEW YORK, Oct. 1, 2013 /PRNewswire/ -- Relmada Therapeutics Inc., a clinical-stage company developing novel therapies for the treatment of chronic pain, today announced the final closing of a Series A financing raising $8 million in gross proceeds. The offer was oversubscribed and Laidlaw & Company (UK) Ltd. acted as the exclusive placement agent.
The company intends to use the Series A proceeds to continue the development of its product pipeline and for general corporate activities. "This impressive response from investors clearly shows the potential of our diversified product portfolio of drug candidates aimed to address the significant unmet medical need in chronic pain," said Sergio Traversa, CEO of Relmada. Based on this successful offering, we plan to complete the required steps for LevoCap ER to enter Phase III of development, d-methadone to enter Phase IIb, MepiGel and BuCap to start the pilot PK studies and to prepare the company for a public transaction in the first half of 2014.
About Relmada Therapeutics
Relmada Therapeutics, Inc. is a clinical stage, private biopharmaceutical company with a diversified portfolio of four products and a deep early stage pipeline for the treatment of pain. Relmada's strategy focuses on two complementary pillars: the improvement of proven drug candidates with novel delivery methods and pharmaceutical compositions and the development of d-methadone as an innovative NMDA (N-Methyl-D-aspartate) inhibitor platform.
The Company is currently developing several drug candidates including: LevoCap ER, its abuse resistant, once–a-day sustained release dosage form of the opioid analgesic levorphanol; d-methadone, the NDMA receptor antagonist for diabetic painful neuropathy (DPN); BuCap, its oral dosage form of the opioid analgesic buprenorphine; MepiGel, its FDA Orphan Drug designated topica
|SOURCE Relmada Therapeutics Inc.|
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