Receptor Life Sciences said that it has closed a $9.7 million Series A-1 financing and will use the proceeds for clinical development of its RLS103 cannabidiol DPI. RLS103 is based on MannKind Corporation’s Technosphere particle engineering technology, which Receptor licensed for use with its cannabinoid products in 2016.
The company is developing the inhaled CBD for the treatment of performance anxiety in social anxiety disorder and for panic disorder. In August 2021, Receptor published data from a Phase 1 trial demonstrating that inhalation of RLS103 resulted in significantly greater bioavailability than oral Epidiolex CBD solution.
Receptor Life Sciences President and CEO Mark Theeuwes said, “The advancement of our lead drug candidate, RLS103, into the clinical phase is a significant milestone for the company, and we appreciate that our investors continue to recognize and support our efforts. This financing provides the opportunity for RLS103 to potentially address multiple psychiatric and neurological disorder indications with significant unmet medical need with safe and effective therapies.”
Read the Receptor Life Sciences press release.
