Seattle-based Proniras has secured $4.65 million in Series B funding to support the clinical development of PRN-001-01 (tezampanel), a novel therapeutic for opioid addiction. The financing round was led by Accelerator Life Science Partners and ARCH Venture Partners, with participation from existing investors including Watson Fund, LP, and WRF Capital.
The funds will primarily be used to initiate a Phase 1 clinical study of tezampanel. This small-molecule therapeutic is designed to modulate glutaminergic signaling, a key mechanism implicated in opioid addiction and withdrawal. The company aims to raise up to $9 million in this round.
Addressing Opioid Addiction
Opioid addiction remains a significant public health crisis, with millions affected worldwide. Current treatments often fall short in addressing the severe withdrawal symptoms that hinder successful recovery. Proniras is focusing on alleviating these symptoms to improve patient outcomes.
PRN-001-01 (tezampanel) represents a novel approach to addiction treatment. By modulating glutaminergic signaling, the drug aims to reduce the intensity of withdrawal symptoms, thereby increasing the likelihood of patients discontinuing opioid use and maintaining a drug-free life.
Leadership Changes
In conjunction with the Series B financing, Proniras has appointed Steven Gillis, Ph.D., as Chairman of the Board. Atul Saran has also joined the Board as an independent member. These appointments are expected to provide strategic guidance as the company advances its clinical programs.
Clinical Development Plans
The Phase 1 clinical study of PRN-001-01 (tezampanel) will assess the safety, tolerability, and pharmacokinetic profile of the drug in healthy volunteers. Subsequent clinical trials are planned to evaluate the efficacy of tezampanel in patients undergoing opioid withdrawal and seeking to recover from opioid addiction.
