According to Lightlake Therapeutics, an investor will receive a 0.98% interest in the company’s naloxone nasal spray for the treatment of opioid overdose for a $500,000 investment and a 1% interest in intranasal naloxone for the treatment of binge eating disorder for an additional $500,000.
In July 2014, the company filed an IND for the opioid reversal indication and announced that it had received additional funding from the National Institute on Drug Abuse (NIDA) for a clinical trial. Positive results from a Phase 2 study of the naloxone nasal spray for binge eating disorder were announced in 2012.
Lightlake CEO Roger Crystal commented, “We are excited to have additional investor support to progress our opioid overdose reversal and BED products. We plan to continue the development of pharmacological solutions to help these patient populations. We are pleased that the FDA recently accepted Shire’s filing for priority review of Vyvanse as a treatment for BED, recognizing this as an area of significant unmet need. This will help define the regulatory pathway for the development of our BED product and start establishing commercial channels.”
Read the Lightlake press release.
