Receptor Life Sciences has raised $29 million for development of several cannabinoid products, the company said. In 2016, MannKind Corporation announced that it had licensed its dry powder inhalation technology to Receptor, which was then newly formed.
According to the company, “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.” A Receptor web page describing its inhaled product plans shows an image of a MannKind DPI.
Receptor Holdings CEO Greg Wesner is an intellectual property attorney who did work for MannKind, and the company’s Chief Scientific Officer, Andrea Leone-Bay, is a former VP of Pharmaceutical Development at MannKind.
Wesner commented, “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. 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.”
Read the Receptor Life Sciences press release.
