Clinical-Stage Drug Development Company Addressing Opioid Addiction, Chronic Pain and Depression
- Clinical-Stage Drug Development Company Addressing Opioid Addiction, Chronic Pain and Depression
- Lead Candidate, Amitifadine, Addresses Symptoms Common to All Three Conditions
CAMBRIDGE, Mass., March 12, 2020 /PRNewswire/ -- Ethismos Research, developing pharmaceutical treatments for chronic pain management, severe depression, and substance use disorders, announced the initiation of a $50 million private placement, led by managing broker-dealer, VENTURE.co Brokerage Services. Ethismos will use the proceeds to fund a Phase 2 clinical trial program for its lead candidate, amitifadine, a triple reuptake inhibitor, for chronic pain, opioid-sparing and facilitation of taper (tapering patients off of opioids while managing their pain and withdrawal), as an adjunct to opioids in patients with chronic non-cancer pain. Amitifadine will also be assessed in a second Phase 2 program in either maintenance of depression remission after ketamine treatment, relapse prevention in methamphetamine dependence, or nicotine cessation (combustible and e-cigarettes). Amitifadine targets the brain pathways, active in both pain and addiction, that transmit signals of pain and mood change, as well as withdrawal symptoms following cessation of drugs of abuse.
“VENTURE.co has close relationships to institutional investors aligned with Ethismos to make a difference in the opioid crisis, with medications that could facilitate transition away from opioid-based pain medication, while managing withdrawal symptoms, negative mood, and the underlying chronic pain,” said Anthony McKinney, CEO and Founder of Ethismos Research. “The longer one takes opioids the more likely one is to develop addiction. Our goal is to minimize exposure to these deadly medications.”
“We are excited to work with Anthony and the Ethismos team to find strategic partners that have a passion for drug development and a deep concern about opioid addiction,” said Joseph Ventresca, Managing Director of Investment Banking at VENTURE.co Brokerage Services. “We look forward to finding a strategic partner for Ethismos that can meet its capital needs.”
Approximately 10 million Americans take chronic opioids for long-term pain (lasting over 3 months). Two million Americans have developed opioid addiction, often due to long-term treatment on opioids, which leads to nearly 50,000 deaths annually. Ethismos is developing pharmaceutical treatments that could reduce exposure to chronic opioids, by providing a non-opioid pain medication, that also treats the mood and psychiatric withdrawal symptoms typically observed as the opioid dose is reduced. Lead candidate, amitifadine, increases the transmission of three neurotransmitters: serotonin (5-HT), norepinephrine (NE), and dopamine (DA), that is believed to relieve pain, improve mood symptoms, reduce the emotional impact of pain, and moderate the psychiatric symptoms of withdrawal. Amitifadine has undergone initial FDA safety and dosing trials and is ready to move into Phase 2 (efficacy) trials.
For additional information, please contact Joe Ventresca, Managing Director of Investment Banking at VENTURE.co Brokerage Services. [Joe@VENTURE.co, +1 (917) 232-4112]
About VENTURE.co
VENTURE.co Brokerage Services, LLC is a technology-enabled boutique investment bank. As a 50-state FINRA-member broker-dealer, we provide strategic advisory and capital formation services to middle-market companies. We believe in building strategic partnerships and strive for value creation for our clients by advising them through the growth of their business.
About Ethismos Research
Ethismos Research, Inc. is a clinical-stage drug development company developing treatments for pain, depression, and substance use disorders. Ethismos is continuing the development of the patented small molecule, amitifadine, a triple reuptake inhibitor, originally developed by Euthymics Bioscience, and acquired by Ethismos in 2017. Amitifadine is different from current addiction or pain treatments and is neither a stimulant nor an opioid. Ethismos Research is located in Cambridge, MA. For more, please go to: https://www.ethismos.com/.
Disclosure: This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Media Contact:
Deanne Eagle
Planet Communications
235887@email4pr.com
(917) 837-5866
Company Contact:
Anthony McKinney
Ethismos Research, Inc.
amckinney@ethismos.com
(857) 626-4391
Brokerage Contact:
Joseph Ventresca
VENTURE.co Brokerage Services
Joe@VENTURE.co
(917) 232-4112
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SOURCE Ethismos Research
